More Profit for Samsung as on demand for chip and display
As some of the marketing experts growth of Smart phone will be slow in next year i.e 2016.
As per balance sheet of Samsung electronics there is jump in profit from the last quarter even if there competition in the smart phone market remained intense.
The company reported sales of 51.7 trillion won(US$45.1billion)
for the quarter,up9 percent from same period a year earlier, and net profit of 5.5 trillion won up 29% Samsung announced Thursday in Korea.
Sales figure has increased largely due to demand of Samsung Chips and flat-panel displays which is more than third of its total business, while profits were helped by the weak Korean won.
Samsung is a major manufacturer of chips and displays, which it uses in its own products and also sells to competitors. Strong demand from smartphone rivals helped to hike sales of memory chips and OLED (organic LED) display panels.
Companies key smartphone business, Samsung said it saw a significant increase in sales after it speed up launch of its flagship Galaxy S6 Edge+ and Galaxy Note5 series phone to try and get an edge on rival Apple.
Planning of success in some speculating flagship handset presumed to be called the GALAXY S7, will be launched a month earlier than normal in January.
However, Samsung profits in the mobile phone business fell slightly from the previous quarter, after the company cut the price of the Galaxy S6 and S6 Edge to help boost sales. It also sold a higher percentage of cheaper, low- and mid-range phones.
IDC said on Wednesday that it estimates Samsung shipped 84.5 million smartphones during the quarter. That put it far ahead of nearest rival Apple, which shipped 48 million i Phones, and third-placed Huawei with 26.5 million shipments.
Looking ahead, the company said it expects smartphone growth to slow, but it thinks its recently launched Samsung Pay service to be key to its mobile phone business. It said improving software and keeping costs down will also be areas of focus.