Samsung Could Refocus Growth Strategy As Q3 Earnings Plummet

While the company's quarterly revenues fell by around 20% year-over-year to $45 billion, net income declined by around 49% to $4 billion. Samsung's cash balance rose to a record high of around $64 billion during the quarter, but we think that it is unlikely that the company will increase its dividends or initiate share buybacks, given its ambitious semiconductor investment plans and its declining smartphone business.