Though down sharply from last year, Samsung s third quarter profit was well above the first quarter s 640 billion won, the lowest since 2009, and the second quarter s 670 billion won.
After first announcing an output cut in April, analysts said Samsung slashed more production in the third quarter to reduce inventory and weather a chip glut driving the worst industry downturn in decades.
Operating profit likely fell to 2.1 trillion won ($1.56 billion) in the July-September quarter, according to a LSEG SmartEstimate from 19 analysts, weighted toward those who are more consistently accurate.
Samsung has been seeing declines in profits for the first time in almost three years. Samsung has reported a drop in profits for its third quarter, according to CNET.