The company believes that it will post an operating profit of around 7.7 trillion Korean won ($6.44 billion).
That sounds pretty bad, and it's certainly not good no matter how you look at the situation, but the company can find a little solace in the fact this Q3 2019 total of approximately 7.7 trillion Korean won ($6.4 billion) represents a small improvement from the KRW 6.6 trillion reported for the year's second quarter. Samsung is also the world's largest smartphone maker.
Samsung Electronics said on Tuesday it expected operating profits to drop more than 50 percent in the third quarter as it struggles with a long-running slump in the global chip market.
The firm rolled out its flagship Note 10 devices that connect to superfast 5G network in August that analysts say have sold far better than its previous models to give Samsung a much-needed boost.
"Samsung would likely enjoy its popularity in Europe's smartphone market as long as the Huawei ban lasts and could even lure back European customers who once left for Huawei", said Park Sung-soon, an analyst at Cape Investment & Securities.
Samsung experienced "solid demand" for its Note 10 handsets and for the memory chips used by Apple's latest iPhones, suggesting that the iPhone 11 lineup is likewise selling better than expected.
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An ongoing trade war between the United States and China and export curbs by Japan on key industrial materials crucial for the production of chips and displays have also made it harder for the market to gauge demand, the watchers said.
The company cited plummeting chip prices and slower chip demand that time, which are issues that continue to plague not just Samsung, but also other chipmakers.
South Korean manufacturing giant, Samsung, officially confirmed that it is expecting a 56% YoY decline in its operating profit. Also, the OLED markets rise. Thus hurting its memory chip business is detrimental to Samsung.
Samsung will announce its full financial for the quarter later this month. So, to be exact, Samsung could be on the way to a 56-percent profit drop year-on-year (YoY).
Concerns over the impact on the production of chips and displays have eased among some market watchers as Japan approved shipments of key materials to Samsung.