Tech giant Samsung has seen shares rise by 4% this third quarter thanks in part to its memory chip profit.
While the mobile and screen division of Samsung has been ok the company’s memory chips have been the real high earner.
In Quarter 2 every 5th phone in India (one of the largest mobile markets in the world) was a Samsung phone.
The company also has the largest market share in the world for Mobile as well as being the largest producer of memory chips, which are used in cars, ai and the Internet of Things.
The fact that Samsung have managed to even raise share value despite the loss of sales and profit from the exploding Samsung phones debacle so quickly, only serves to highlight how little impact the PR disaster had on the company in the long term and the benefits of a diversified portfolio.
Had the company not had the diversity amongst its portfolio it would have struggled to retain investors in just a pure mobile market and invest in a strong campaign to lift the Galaxy brand.
The Samsung Galaxy Note which was released this year has been met with critical acclaim, with the company hinting that it aims to release a foldable smartphone next year “As the head of the business, I can say our current goal is next year,” said Koh Dong-jin, president of mobile business at Samsung Electronics. “When we can overcome some problems for sure, we will launch the product.”
Samsung’s mobile president said market response to the Note 8 beat its expectations even though its price was more expensive than past models and even as the Note brand’s reputation took a hit from its previous model, the disgraced Note 7 phone that was recalled twice and discontinued after it spontaneously overheated or caught fire.
Samsung received more than 500,000 pre-orders — 650,000 units — for the Note 8 in South Korea before it had even launched.