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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Electronics Co., Ltd.    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
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Xiaomi's profit jumps as smartphone shipments surge

11/24/2020 | 07:54am EST
FILE PHOTO: People wearing protective face masks visit Xiaomi brand's store in Kyiv

SHENZHEN/SHANGHAI (Reuters) - Xiaomi Corp on Tuesday reported a 19% jump in third-quarter net profit, beating estimates, as the Chinese smartphone maker's shipments over the quarter surged by 45.3% on a year earlier.

Xiaomi has grabbed market share in China and Europe as its rival Huawei Technologies has faced U.S. sanctions that have hit its supply chain.

The company expects it will continue to gain market share after the latest round of U.S. sanctions against Huawei disrupted its supply chains in August..

Xiang Wang, Xiaomi's president, when asked whether Huawei's problems had helped Xiaomi, said that the company was "paying attention to what is happening into the market," but was continuing with its own strategy.

Xiaomi's smartphone revenue rose to 47.6 billion yuan, an increase of 47.5% in the same period, it said in a statement. Overall, quarterly revenue rose to 72.1 billion yuan, up from 53.7 billion yuan.

"In Q3 we reached a record high (in revenue), but we only have a market share of 13.5%, so the room for growth is huge," Wang said in the company's earnings call.

Analysts had on average forecast that Xiaomi would report third-quarter net profit of around 3.28 billion yuan, based on to Refinitiv data.

Xiaomi placed orders for up to 100 million phones between the fourth quarter of 2020 and first quarter of 2021, up 50% on projections before the August restrictions, consultancy Isaiah Research said.

However, Wang said that in Q4 a shortage of components would be a challenge for the company. "We can't waste any material, we need to be more precise in production and design and product planning," he said.

The company became the third-biggest seller of handsets in the third quarter, shipping 47.1 million units with 45% growth, consultancy Canalys said. Samsung is the largest, followed by Huawei.

Xiaomi is also attempting to court Huawei's distributors in Southeast Asia and Europe in the hopes of gaining exclusive deals, and is actively targeting Huawei's high-end market share in China, a source at Xiaomi familiar with the matter has said.

($1 = 6.5761 Chinese yuan renminbi)

(Reporting by David Kirton in Shenzhen and Brenda Goh in Shanghai, editing by Louise Heavens and Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG ELECTRONICS CO., LTD. -1.48% 86800 End-of-day quote.7.16%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.4845 Delayed Quote.-0.49%
XIAOMI CORPORATION -3.72% 29.8 End-of-day quote.-10.24%
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Financials
Sales 2020 235 928 B 214 B 214 B
Net income 2020 26 667 B 24,1 B 24,1 B
Net cash 2020 93 685 B 84,8 B 84,8 B
P/E ratio 2020 21,5x
Yield 2020 1,98%
Capitalization 582 033 B 526 B 527 B
EV / Sales 2020 2,07x
EV / Sales 2021 1,81x
Nbr of Employees -
Free-Float 82,9%
Chart SAMSUNG ELECTRONICS CO., LTD.
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Average target price 97 820,51 KRW
Last Close Price 86 800,00 KRW
Spread / Highest target 45,2%
Spread / Average Target 12,7%
Spread / Lowest Target -30,9%
EPS Revisions
Managers and Directors
NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Jae-Wan Park Chairman
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