Samsung's Q3 operating profit to hit $7.3B

Summary:Korean electronics giant continues to thrive as it expects operating profits to break the record for the fourth straight quarter on the back of strong demand for mobile devices.

Samsung Electronics will reap a fourth consecutive record-breaking operating profits performance, estimating 8.1 trillion won (US$7.3 billion) to be raked in the third quarter as its business is boosted by solid smartphone sales.

According to the Yonhap News Agency, citing a regulatory filing by the Korean company on Friday, the July-September period will be its fourth straight quarter of achieving a record operating profit. The preliminary estimate indicates a 90.6 percent spike from the same quarter in 2011, and a 20.5 percent gain from the previous quarter, the company noted.

It also said third-quarter revenue will jump 26 percent year-on-year to reach 52 trillion won (US$46.7 billion)--the first time it has passed the 50 trillion won (US$44.9 billion) mark.

The company did not provide reasons for its operating profit estimate, the report noted, but analysts the news agency spoke to said brisk shipments of mobile devices, notably its flagship Samsung Galaxy S3 and Galaxy Note 2 tablet, would have contributed to the positive results.

Samsung earlier reported it had sold 20 million of its Galaxy S3 smartphone in just over three months , despite it being initially hampered by delays and supply chain challenges.

Topics: Tech Industry, Samsung, Smartphones

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A Singapore-based freelance IT writer, Kevin made the move from custom publishing focusing on travel and lifestyle to the ever-changing, jargon-filled world of IT and biz tech reporting, and considered this somewhat a leap of faith. Since then, he has covered a myriad of beats including security, mobile communications, and cloud computing... Full Bio

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