UPDATED. 2024-02-23 09:48 (금)
Samsung SDI’s Q3 profits rise 61.6%
Samsung SDI’s Q3 profits rise 61.6%
  • Stan Lee
  • 승인 2020.10.27 17:32
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Sales jumped 20.2%
Image: Samsung SDI
Image: Samsung SDI

Samsung SDI posted 267.4 billion won in operating income and 3.08 trillion won in sales in the third quarter.

It is a rise of 61.6% and 20.2%, respectively, year over year.

The company saw demand rise for both circular and prismatic batteries.

Its electronics material business also posted strong growth thanks to demand from semiconductors.

Samsung SDI’s battery business marked sales of 2.38 trillion won, a rise of 22% year over year.

Sales rose on the back of the start of high-demand season for electric batteries and expansion of subsidies for the cars in Europe.

However, it saw a slight sales drop in its energy storage system business. It is planning export more to offset the decline going forward.

In small batteries, Samsung saw demand rise for circular ones used for power tools  and e-mobility products. Pouch batteries saw demand rise from the launch of new smartphones.

Samsung’s electronics material business posted 703.7 billion won in sales, a rise of 14.6% year over year.

Polarizer film sales rose from liquid crystal display (LCD) TVs, monitors, notebooks and tablets.

Sales of materials for organic light emitting diode (OLED) also increased from launch of new smartphones. Materials for semiconductors also grew in the quarter.

Samsung SDI expects fourth quarter to be strong as well as thanks to expansion of battery sales in Europe. Circular battery demand is also expected to continue to the next quarter.

It will see demand for polarizer films drop in the fourth quarter but demand for materials in OLED and semiconductors will remain strong, which will lead to profitability, the company said.

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