[Edaily Reporter JAEMIN SONG ] SamsungElectronics will announce its preliminary third-quarter earnings today (the 8th). With memory chip prices continuing to rise, driven by demand for artificial intelligence (AI), attention is focused on whether the company will surpass 100 trillion won in quarterly operating profit—a first in the history of South Korean companies.

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According to financial information provider FnGuide Inc. on the 8th, the consensus estimates (average forecasts by securities firms) for SamsungElectronics’ third-quarter consolidated revenue this year stand at 200.6417 trillion won, while operating profit is projected at 106.6401 trillion won. These figures represent year-over-year increases of 133.1% and 776.5%, respectively.

If these figures meet market expectations, SamsungElectronics will surpass 200 trillion won in revenue and 100 trillion won in operating profit simultaneously for the first time on a quarterly basis. This would also extend the streak of record-breaking earnings that has continued since the fourth quarter of last year. SamsungElectronics posted operating profits of 57.2328 trillion won in the first quarter and 89.4924 trillion won in the second quarter of this year. When combined with the third-quarter consensus estimate, the company’s cumulative operating profit for the year will exceed 250 trillion won.

These latest results are also expected to be driven by the Device Solutions (DS) division, which handles semiconductors. This is due to a sharp rise in memory prices, driven by increased demand for server DRAM and enterprise solid-state drives (eSSDs) amid expanding investments in AI data centers, compounded by supply shortages.

According to market research firm DRAMeXchange, the average price of PC DRAM in September reached $26, up $1 from the previous month and setting a new all-time high. The average price of NAND flash for memory cards and USB drives also rose to $30.6, marking the 21st consecutive month of increases. Analysts estimate that SamsungElectronics’ average selling prices (ASPs) for DRAM and NAND in the third quarter also rose by double digits compared to the previous quarter.

The recovery of the High Bandwidth Memory (HBM) business is also expected to have bolstered earnings. SamsungElectronics is expanding its AI memory sales by ramping up mass production of HBM4, its sixth-generation HBM. Observers predict that profitability in the memory business has improved significantly as shipments of HBM—which is relatively more profitable—increased alongside rising prices for general-purpose DRAM.

On the other hand, the Device Experience (DX) division, which handles smartphones and home appliances, is expected to have continued facing cost pressures due to rising component prices. While the sharp rise in memory prices is a positive factor for the DS division, it acts as a cost burden for the set business, which must purchase memory. The recent strengthening of the won against the dollar is also believed to have placed some pressure on SamsungElectronics’ earnings, given the company’s high proportion of exports.

The memory market is expected to remain robust in the fourth quarter. TrendForce forecasts that prices for general-purpose DRAM will rise by 10–15% and NAND flash by 15–20% in the fourth quarter compared to the previous quarter. With demand for server memory continuing to grow due to expanded investment in AI infrastructure, and given that it will take time for suppliers to expand production capacity, the supply shortage is expected to persist for the time being.

Kim Seon-woo, an analyst at Meritz Securities, projected SamsungElectronics’ third-quarter operating profit at 106.1 trillion won, analyzing that “although the sharp appreciation of the Korean won has created an unfavorable environment for earnings, SamsungElectronics’ memory selling prices will once again outperform the industry average thanks to its robust sales strategy.”