Samsung posted Q3 profits in mobile business due to sales of Galaxy A and Note series

Samsung hopes foldables and 5G smartphones will contribute more to earnings in 2020

Samsung Galaxy Note 10+

Despite the mobile market overall not doing so well, Samsung’s mobile division earned a profit in its Q3 2019.

Samsung’s mobile business posted a revenue increase of 17 percent at 29.25 trillion won (about $32.9 billion CAD). Additionally, profit rose 32 percent to 2.92 trillion won ($3.2 billion CAD)

The South Korean company says this increase is due to the sales of the Galaxy A series as well as its Galaxy Note handsets.

While Samsung didn’t release specific sales numbers for the Note 10, it did state that this iteration performed better than the Note 9. However, it’s unclear if Samsung bundled the Note 10 with the Note 10+ sales.

In 2020, the South Korean company believes its 5G and foldable phones will contribute more to its sales.

Though Samsung’s smartphone business did well overall, the company made a 62 trillion won (about $69.75 billion CAD) in revenue and had an operating profit of 7.78 trillion won (roughly $8.75 billion CAD).

Both are drops in profit year-over-year for Samsung. The company reported losses in its memory chip division and its TV business. Samsung’s display business, on the other hand, performed well.

Source: Samsung