Samsung expects Q3 operating profit to soar on smartphone sales
SEOUL (AP) - Samsung Electronics estimates its third-quarter operating profit nearly doubled from a year earlier to an all-time high - likely driven by strong smartphones sales that offset weak semiconductor orders.
The company's Friday earnings preview estimated July-September operating income at 8.1 trillion won (S$9 billion), higher than the market consensus of 7.6 trillion won.
The world's largest maker of mobile phones, memory chips and TVs estimated its quarterly revenue at 52 trillion won, a 26 per cent growth from a year earlier.
Analysts believe Samsung's mobile division that sells smartphones, media players and tablet computers generated almost 70 per cent of its operating income in the last quarter.