Tech giant Samsung has had an excellent quarter. The South Korean company benefited, among other things, from the restrictions imposed by the United States on the Chinese competitor Huawei.
The maker of smartphones and memory chips, among other things, closed the three months to September with an operating result of 12.3 trillion won, or more than 9 billion euros, according to preliminary figures.
With that result, the company also surprised the markets. Experts generally assumed a result of 10 trillion won. The turnover of 66 trillion won was even better than expected.
Samsung did not report a net result yet. The revenues have also not yet been broken down by business unit. That will happen later this month when the company comes up with the final results.
In the second quarter of this year, Huawei took over the leading position in the smartphone market from Samsung. The Korean tech giant now seems on track to become the market leader again as the Chinese rival no longer has access to advanced components that go into its Android devices.
Samsung is also expanding its market share in India. This is partly due to the rising tensions between India and China, making consumers in India increasingly hostile to Chinese products.
Furthermore, Samsung has put less money into marketing in recent months, which will benefit the profitability of the company.