Samsung Group’s market cap surges this year

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Samsung Group’s market cap surges this year

Samsung Group’s market capitalization has continued to grow this year, largely led by a sharp increase in the market capitalization of its flagship company, Samsung Electronics, data showed Sunday.

As of the end of October, the combined market capitalization of the group’s 16 listed subsidiaries came to about 434.8 trillion won ($375.6 billion), up 68.2 trillion won, or 18.6 percent, from the end of last year, according to the data from FnGuide.

Such an increase could be largely attributed to a rise in the market capitalization of Samsung Electronics, which came despite disappointing results so far in the year.

Both the sales and profit have steadily dropped from a year earlier in each quarter this year, with its sales slipping 5.3 percent on year to 62 trillion won and its operating profit plunging 55.7 percent to 7.78 trillion won in the third quarter alone.

Still, market capitalization has soared 30.06 percent from the start of the year to a little over 300.8 trillion won as of the end of last month, the data showed, on expectations that the world’s largest memory chipmaker would deliver improved earnings.

The company has been suffering from a drop in chip prices, and its smartphone business has also not fared well this year.

Of 16 Samsung Group subsidiaries, nine, including Samsung Electronics, had their market capitalization increase over the cited period, while capitalization fell for the others.

Out of the 10 largest business groups in Korea, the market caps of only three, including SK and Hyundai Motor Group, grew over the cited period, while the market caps for the other seven fell.

Yonhap

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