The past quarter hurt many companies, but not Samsung, which saw its profits up 58% from the same period last year. The Korean giant is indeed benefiting from a star alignment.
On the one hand, after struggling in recent years, Samsung had made significant internal reshuffles. Then, the Chinese giant Huawei, which had briefly stolen its crown of world number 1 for smartphones in the second quarter of 2020, is in turmoil. The Sino-US clash deprived it of, among other things, Google services and its in-house chip production capabilities at TSMC. As a result, sales of Samsung terminals soared quarter to quarter, from 54.2 million units to 80 million in the third quarter.
Added to this is the success of the semiconductor division, which not content to deliver a mess of memory chips for the new generation of consoles from Microsoft and Sony, will have to deliver OLED screens for the release of the next iPhone 12. Not to mention The esteemed success that Nvidia has chosen to use Samsung’s 8nm EUV technology for its new generation of Geforce RTX 3000 GPUs.
The South Korean tech giant is therefore doing well, posting its best quarter for more than two years.