One-sentence summary
In Q3 2026, Samsung posted revenue KRW 195.25T and operating profit KRW 107.44T (larger in scale), while SK Hynix posted revenue KRW 104.62T and operating profit KRW 83.33T at an 80% margin; both set records as HBM4 becomes the next main product.
Companies
- Samsung Electronics: Detailed Q3 results on October 29; the DS chip division contributed nearly all group profit.
- SK Hynix: 3Q26 results on October 28; 80% operating margin, with HBM4 shipments and revenue overtaking HBM3E from Q4.
Key Parameters
| Dimension | Samsung Q3 2026 | SK Hynix Q3 2026 |
|---|---|---|
| Revenue | KRW 195.25T (+~127% YoY) | KRW 104.62T (+32% QoQ, +328% YoY) |
| Operating profit | KRW 107.44T (+~783% YoY) | KRW 83.33T (+38% QoQ, +632% YoY) |
| Operating margin | ~55% | ~80% |
| Net income | KRW 75.21T | KRW 39.78T |
| HBM progress | HBM4 ramped; HBM4E to mass produce | HBM4 overtakes HBM3E in shipments/revenue from Q4 |
| Shortage outlook | Through 2028 | Through 2030 |
| Customer lock-in | Not detailed this quarter | 14 customers; 50%+ of 2027-2028 capacity locked |
Key Differences
- Scale vs margin: Samsung is larger in revenue and absolute OP; SK Hynix's 80% margin beats Samsung's 55%.
- Mix: Samsung concentrates profit in DS with mobile posting a loss; SK Hynix is purer memory earnings.
- Shortage outlook: Samsung sees it through 2028, SK Hynix through 2030 — the latter more bullish on long-term supply/demand.
Guidance (Investor View)
- Absolute scale and diversification: Samsung.
- Memory earnings purity and HBM4 share: SK Hynix.
- Both sit at cycle highs; valuations are highly sensitive to AI capex and price turns.
Sources
- Samsung: 3Q 2026 Earnings Call (PDF)
- This site dataset: Samsung Q3 2026 financial data