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Samsung Could Soon Earn Back Title as World's Top Smartphone Manufacturer

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To say that 2020 is a pretty weird year would be an understatement. As a matter of fact, it's a year full of unpleasant surprises. So when Huawei overtook Samsung as the world's top smartphone manufacturer during Q2 2020, it really meant that something wasn't right in the smartphone industry. But Samsung is confident it will be seeing a hike on its Q3 2020 operating profits. 

Today, Samsung released its earnings guidance for the quarter covering the months of July through September. During this quarter, the South Korean manufacturer expected its sales to hit $57.6 billion (66 trillion Korean won) with an operating income of $10.6 billion (12.3 trillion Korean won). This is a number that is not too far off the expectations of top analysts, which is 10 trillion won. 

Samsung is expected to report its net income later this month. They will also be restating their figures based on a number of product categories. If all goes well, the company's operating income would rise up by 58% from Q3 2019. 

Samsung could easily earn back the title as the top smartphone manufacturer in the world since Huawei could soon lose access to TSMC's 5nm chips. This is because of a new US export rule that prohibits foundries using US technology to produce chips from shipping to the Chinese manufacturer. This ruling, announced in May, requires Huawei to first obtain a license from the US. The rule took effect on September 15th and is expected to play a vital role on the smartphones Huawei produces this year. 

On Thursday, Samsung reported an increase in its shares by up to 1.3%. 

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