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Samsung Q3 2020 Business Results: Generated KRW 66.96 trillion revenue and KRW 12.35 trillion in operating profit
Today, Samsung announced its financial results for the third quarter of this year. In this period the company reported total revenue of KRW 66.96 trillion (around $59.1 billion) and KRW 12.35 trillion operating profit for the third quarter of 2020. Samsung has got this higher revenue because of higher consumer demand and its flexible global supply chain management.
Samsung’s quarterly operating profit surged 52 percent from the previous quarter. Third-quarter operating profit was also 59 percent higher year-on-year on stronger sales of memory chips and consumer products.
Due to the Covid-19 pandemic, the market was fallen in Q1 and Q2 this year but when the market got relaxation in lockdown, the market has shown a boost in the demand for electronics that’s why Samsung’s smartphone sales increased by nearly 50%.
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Samsung’s smartphone sales rose sharply from the previous quarter, with the launch of new flagship models such as the Galaxy Note 20 series and Galaxy Z Fold 2 and higher sales in India. Sales increase in tablets and wearables including the Galaxy Tab S7, Galaxy Watch 3, and Buds Live also contributed to the profit growth in the third quarter.
Well, the demand for smartphones increased in the third quarter but Samsung expects a sales decline of smartphones and marketing costs to increase due to the competitive market environment.
In 2021, Samsung plans to expand its smartphone sales by strengthening the lineup for foldable phones and mass-market 5G models. The System LSI Business will focus on differentiated 5G SoCs and high-resolution sensors.
For the Networks Business, the Company strengthened its foundation for 5G business by signing a large-scale supply contract with Verizon in the U.S. The Company will continue to expand its 5G coverage in South Korea and push to expand the business globally including North America and Japan.
The System LSI Business also saw profit rising over demand for mobile phone components. The Foundry Business benefitted from increased orders for high-performance computing (HPC) chips and other applications.
Samsung Electronics also saw a sharp growth in sales of premium TVs and appliances, supported by flexible management of supply chain and sales channels.
The Display Panel Business reported higher profit quarter-on-quarter led by growing mobile display sales on customers’ new product launches and improved supply-demand environment for large panels.
Samsung’s executive chairman Jay Y. Lee (Lee Jae-yong in Korean) topped the Forbes 2024 Richest Korean list for the first time. On April 17, Forbes revealed that the Samsung boss is the richest in South Korea, with his assets increasing by $3.5 billion, bringing his total net worth to $11.5 billion.
Thanks to a rise in Samsung’s stocks, Samsung’s Lee jumped to the top of the Forbes 2024 Richest Korean list. Notably, the company’s stocks significantly hiked after the revelation that it’s developing high-bandwidth memory chips used in AI computing for NVIDIA.
Forbes 2023 Richest Korean, Kim Byung-ju, slipped to second this year with assets worth $9.7 billion. The third place went to Seo Jung-jin, honorary chairman of Celltrion, with assets of $7.5 billion.
Cho Jung-ho, chairman of Meritz Financial Group, ranked fourth with $6.2 billion, and Chung Mong-koo, honorary chairman of Hyundai Motor Group, was fifth with $4.6 billion.
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Samsung established an AI chip design-dedicated Advanced Processor Lab in Silicon Valley, US. Formerly known as the Advanced Institute of Technology, Samsung’s SAIT is said to have formed the new Lab to strengthen its AI chip R&D in the US.
BusinessKorea reports that the new Samsung Advanced Processor Lab to focus on developing next-gen AI semiconductor design assets in the US. The assets are said to be focused on the RISC-V area, which serves as a foundational design asset for semiconductor chip design.
Samsung’s initiative with RISC-V is interpreted as a move towards technological independence. Therefore, the company is expanding its R&D organization in Silicon Valley, aiming to enhance design capabilities to disrupt the market currently dominated by NVIDIA.
Amid the booming AI era, the market of advanced semiconductors is also expanding. Samsung has completed the development of its Mach-1 AI semiconductor and supplied prototypes to global firms including Korea’s Naver. The company has also started the development of Mach-2.
Under the CHIPS Act, Samsung received huge subsidies to boost investment in the US. It’s worth noting that the Biden govt awarded a 12% subsidy of Samsung’s total investment, which is significantly higher than Intel and TSMC’s subsidy.
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Samsung’s first 3nm Exynos 2500 chip could outpace Snapdragon 8 Gen 4 in power efficiency. Both chipsets will power the next-gen Galaxy flagships, scheduled for an early 2025 launch. Recent input suggests that Exynos is returning as a tough rival to Snapdragon.
The Exynos 2500 will be made on Samsung’s 2nd-gen 3nm process technology. The S24’s Exynos 2400 chipset impressed the industry with significant improvements over its predecessor. The company appears to be leveling up the game next year.
Thanks to the cutting-edge process node, Samsung’s next Exynos could finally surpass its Snapdragon counterpart in power efficiency. The company may utilize its advanced FOWLP in the Exynos 2500 to make it run at higher clock speeds at the same power consumption level.
Qualcomm is facing power efficiency concerns with its recent Snapdragon chips. Due to reduced efficiency, phone makers are forced to bring up to 5000mAh battery. Samsung apparently seized this opportunity to bring back its in-house Exynos back to the contest.
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