Samsung Electronics has advised investors that it will make big profits and make a big jump in revenue for the quarter ended June 30.
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The chaebol today delivered quarterly guidance of ₩74 trillion in revenue and ₩10.4 trillion in profit — $53.7 billion and $7.5 billion, respectively.
The profit forecast is fifteen times higher than the profit of ₩640 billion ($460 million) in the same quarter of 2023, and revenue has increased by a little more than ₩10 trillion ($7.2 billion).
Samsung's guidance does not explain the source of its revenue and profit jump. While global smartphone shipments — a market where Samsung moves more devices than any other brand — rose six percent, according to analyst firm Counterpoint Research, it's one area where margins are tight. The Galaxy lineup of devices is therefore unlikely to have delivered the Korean giant its appealing new balance sheet.
