Samsung has announced its Q3 2019 financial results, and it’s confirmed that the Galaxy Note 10 saw strong sales in the quarter.
Samsung’s mobile earnings in the Q3 improved significantly QoQ on robust shipments of the flagship Galaxy Note 10, a better product mix and higher profitability in the mass-market segment.
The Galaxy Note 10 in the third quarter exceeded the Galaxy Note 9’s sales performance, presenting double-digit growth in volume.
According to the official announcement, Samsung’s revenue hit almost $25 billion with operating profit surging 32% from Q3 2018 to $2.5 billion.
In the Mobile Business, strong sales of the Galaxy Note 10 and A series boosted profit, along with improved margins for mass-market models.
The business also expanded its 5G product offerings and launched the Galaxy Fold, demonstrating Samsung’s technology leadership. Meanwhile, the Network Business reported higher earnings YoY on growing commercialization of 5G service in Korea.
Looking ahead to the fourth quarter, the Company expects demand for components to turn sluggish in general amid weak seasonal effects, while marketing expenses are likely to increase to address year-end smartphone sales.