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Samsung Electronics expects record US$12.8b Q3 operating profit

13 Octobre 2017

Samsung Electronics on Friday said it was expecting record operating profits of about 14.5 trillion Korean won ($12.8 billion) for the September quarter, seeing a massive jump of almost 179 percent from the same period a year earlier.

Revenue likely rose 29.7 percent from a year earlier to 62 trillion won, Samsung said in a regulatory filing.

Shares of Samsung Electronics closed at 2,740,000 won Thursday, up 0.29 percent from the previous session.

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The record profits are likely backed by a recovered mobile division - the well-received Galaxy Note 8 began sales last month - and the continuing high-demand for its memory chips.

The South Korean company did not elaborate on its performance and will disclose detailed earnings in late October. Pre-orders for the Note 8 hit the highest-ever for the Note series, Samsung previously said. Growing sales of organic light-emitting diode (OLED) smartphone screens for new Apple smartphones also have supported forecasts of a new earnings record in the fourth quarter.

Samsung Electronics expects record US$12.8b Q3 operating profit