Samsung Set For Record Quarterly Profit

Electronics giant Samsung is expected to post a record operating profit of 10.1trn won (£5.8bn) in the third quarter of this year.

The estimate represents a 25% increase from a revised operating profit of 8.06trn (£4.62bn) won a year earlier for the world's top maker of smartphones, memory chips and flat-panel TVs.

Analysts said rising memory chip and semiconductor prices were probably the main growth driver in the July-September period, as Samsung's flagship Galaxy S series struggles in the increasingly saturated high end of the global smartphone market.

Samsung's strength in the market for cheaper smartphones was also a factor, they said.

The third quarter estimate marks a 6% rise from the April-June quarter, when the tech behemoth posted an operating profit of 9.53trn won (£5.51bn).

Sales in the July-September period were expected to be up 13% from the same period last year.

Samsung's key competitor is Apple and its iPhone

The world's largest technology firm by revenue was giving revenue guidance before official results later this month.

Analyst Choi Do-Yeon of Kyobo Securities said: "The semiconductor business seems to be on an uptick while the stagnation in the mobile sector is milder than expected."

The company did not provide a net profit estimate or a breakdown of figures for each of its business units.

But analysts estimate Samsung shipped between 85 million and 89 million smartphones in the third quarter.

In the second quarter, Samsung had a dominant 33.1% share of the global market, while rival Apple trailed in second place with 13.6%, according to researcher Strategy Analytics.

Samsung revealed its hi-tech watch last month

Samsung does not disclose unit sales figures for its phones.

Its shares were up more than 1% early Friday but dipped later in the day to close down slightly.

"Smartphones have been the key driver of profits for Samsung but with their growth now mainly being focused on the mid-to-lower-end segment," analyst Brian Park said.

"Maintaining a status quo seems to be the best scenario for Samsung going forward."

:: Minor rival HTC has reported its first ever quarterly loss, of £63m, in the July- September period after sales were down 33% year-on-year.

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