Samsung likely to post 35per cent surge in third-quarter profit as smartphone sales recover

Samsung Electronics Co Ltd’s September-quarter profit likely surged more than a third, fuelled by strong smartphone sales and a rush order of memory chips from Huawei Technologies Co Ltd, analysts said.

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul

FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul. Picture taken January 7, 2019. REUTERS/Kim Hong-Ji/File Photo

SEOUL: Samsung Electronics Co Ltd’s September-quarter profit likely surged more than a third, fuelled by strong smartphone sales and a rush order of memory chips from Huawei Technologies Co Ltd, analysts said.

Samsung, the world’s biggest memory chip supplier, is scheduled to announce preliminary July-September operating profit and revenue on Thursday.

Profit likely rose 35per cent to 10.5 trillion won (US$9.07 billion) from the same period a year earlier, according to Refinitiv SmartEstimate, derived from analyst estimates weighted toward those more consistently accurate. Revenue likely rose 3per cent.

Read More
Read More