South Korea manufacturing giant, Samsung Electronics, is the largest smartphone maker in the world. Recent report shows that the company’s latest market value hit $301.6 billion. In addition, the company now ranksĀ 18th globally,Ā it has risen 10 places in the past year.
As of Thursday, the market value of Samsung hit $301.65 billion, an increase of $95.08 billion compared with January 2, 2019. During this time, Samsung Electronics shares rose 51% to close at 58,600 won ($51) on Thursday. On Friday, Samsung Electronics’ share price reached a record high of 59,500 won ($52). As of Friday, foreign investors have invested 627 billion won ($540 million) in Samsung shares this month, and they believe that Samsung Electronics’ profits will continue to improve in the future.
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Last week, Samsung announced its performance guidance data. Due to the rebound in chip prices, Samsung believes that fourth-quarter earnings will be higher than expected. Samsung estimates that operating income in the fourth quarter will reach 7.1 trillion won ($6.1 billion). Although it decreased by 34.26% year-on-year, it is higher than the market estimated median of 6.5 trillion won ($5.6 billion). It’s because chip prices are picking up and smartphones are performing better than expected.
For the full year of 2019, Samsung expects operating profit to reach 27.71 trillion won ($23.9 billion), a year-on-year decrease of 52.9%. This is a new low since 2015. Samsung Electronics’ full-year sales in 2019 are expected to reach 229.52 trillion won ($198.2 billion), a 5.8% decrease from 2018, a new low since 2016.
