Samsung expects record Q3 profit of $9.4bn

Samsung Electronics logo displayed at the company's main building in Seoul Samsung Electronics Co. said Friday it expected to post a record operating profit of 10.1 trillion won ($9.4 billion) in the third quarter of this year. The estimate represents a 25 percent increase from a revised operating profit of 8.06 trillion won a year earlier, said the world's top maker of smartphones, memory chips and flat-panel TVs.
Samsung, the world's largest technology firm by revenue, was giving earnings guidance before official results later this month.
The estimate marks a 6.0 percent rise from the previous quarter, when the tech behemoth posted an operating profit of 9.53 trillion won on the back of robust sales of its flagship Galaxy 3 smartphone and higher chip prices.
Sales in the July-September period were expected to reach 59 trillion won, up 13 percent from the same period last year.
The company did not provide a net profit estimate in the earnings guidance or a breakdown of figures for each of its business units.
Source: AFP