Samsung reported stronger-than-expected sales of its Galaxy Note 10 lineup ahead of the launch of the Galaxy Fold.
The news comes at a good time for the world’s larger maker of smartphones, which, like Apple, has been experiencing falling sales in recent quarters. But Samsung has been hit doubly hard because it, too, has experienced falling sales of its memory chips. But it appears now that both of these key markets for Samsung are stabilizing.
Samsung reported today that it expects to post $6.4 billion in operating income in the third quarter of 2019. (The firm provides earnings guidance ahead of the formal earnings announcement.) That’s well ahead of the $5.8 billion that analysts had expected.
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. Samsung and Apple are the number one and three smartphone makers, respectively.
Samsung will provide more details about its various businesses when it releases its final figures later this month. Before then, of course, it will expand the availability of the 5G versions of the Note 10 and release the folding Galaxy Fold phone.