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Biz News Korea(Eng)
Samsung Electro Q3 OP more than octupled on year
- Collected
- 2017.10.31
- Distributed
- 2017.11.01
- Source
- Go Direct
Samsung Electro-Mechanics on Monday said in a regulatory filing that it posted 103.2 billion won ($91.7 million) in operating profit for the July-September period of this year, more than octupled from 12.8 billion won a year ago. Sales have climbed 25.5 percent to 1.8 trillion won over the same period while net profit has soared to 74.5 billion won from 3.9 billion won. On quarter, the company’s operating profit rose 46 percent.
Demand for the company’s dual camera modules and HDIs for smartphones has surged in line with the flow of new smartphone launches, according to the company.
The company’s profitability is also expected to improve further in coming quarters as it expects its new high-end dual camera model that it aims to complete the development by this quarter to help add new clients. It also plans to ramp up output of rigid flexible printed circuit board (RF PCB) mainly sought after by latest smartphone models.
Shares of Samsung Electro-Mechanics on Monday closed 5.97 percent up at 103,000 won from the previous session.
By Song Sung-hoon and Lee Ha-yeon
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