Samsung increased its profit in the third quarter by 29%

Moscow. October 29. South Korea’s Samsung Electronics Co., the world’s largest smartphone maker, increased its net profit in the third quarter of 2015 29% and announced the launch of its share repurchase programme worth $10 billion.

As reported in a press release, Samsung’s net profit in July-September increased to 5,46 trln Korean won ($4.8 billion).

Adjusted profit amounted to 5,31 billion won. Analysts surveyed by Bloomberg, the average predicted this indicator at the level of 5.4 trillion won.

The company’s operating profit in the third quarter increased by 82% compared with the same period last year to 7,39 trillion won.

Samsung revenue increased by 9% to 51.7 trillion won.

Operating profit units Samsung, which produces mobile devices jumped 37 percent to 2.4 trillion won. Meanwhile, the share of mobile business in aggregate of the company’s profit fell to the lowest since 2010 32%. The profitability of the division was 9% versus 7% in the same quarter of 2014, while the peak level at the beginning of last year, the rate reached 20%.

Assessment of the research company IDC, sales of smartphones in the third quarter grew by 6.1%, to 84.5 million.

A division of Samsung for the production of semiconductors in the third quarter recorded growth in operating profit by 62%, to 3.66 trillion won. The profitability of the business increased to 28.5% from 23% in July-September last year. Samsung is a global leader in manufacturing memory cards.

Operating profit of the business for the production of consumer electronics, including TVs and household appliances, grew in the last quarter to 360 billion won to 50 billion won a year earlier.

On Thursday Samsung announced its intention to redeem and withdraw from circulation the shares of the $ 11.3 trillion won ($10 billion). The share buyback programme was a record in the company’s history. At the end of September, Samsung had free funds in the amount of 70 trillion won.

Samsung shares in the auction on Thursday rose by 1.3%, reducing the decline since the beginning of this year to about 3%.