The world normally knows Samsung because of its top of the line smartphones or high-end LED TVs but that’s not what really earns dollars for the South Korean electronics giant.
Just recently, Samsung revealed its estimates for the third quarter of the year and that data point to the company achieving the highest operating profit in its entire history. Samsung is set to reach 17.5 trillion won ($15.8 billion), up 20% from the same period last year. Not only that: revenues will also reach a record 65 trillion won ($57.3 billion), almost 5% more than last year.
Memory, Not Smartphone
To our surprise, the rising profits aren’t due to the smartphones but due to their memory production business. In fact, the second quarter those lost more market share than any other manufacturer with a Galaxy S9 and a Galaxy S9+ whose sales haven’t been as good as expected.
It was Samsung’s memory production business that has earned so much for the company. Surprisingly, the year 2018 has been so kind to the company that it has already surpassed Intel in terms of manufacturing, making it the largest revenue generating semiconductor manufacturer
According to the Q2 2018 results, Samsung’s memory business grew 33% in revenue while the mobile division decreased by 22% in revenue!