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Samsung's Q3 operating profit forecast to top 10 tln won

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(Globalpost/GlobalPost)

SEOUL, Sept. 8 (Yonhap) -- South Korean tech giant Samsung Electronics Co. is expected to chalk up an operating profit of more than 10 trillion won (US$9.15 billion) for the third quarter thanks to the strong performance of its semiconductor business, a market tracker said Sunday.

According to FnGuide, local securities companies' estimates of Samsung's operating profit for the July-September period average 10.28 trillion won, with its sales expected to reach 60.19 trillion won.

Among local brokerage houses, KDB Daewoo Securities Co. estimated the highest operating profit of 10.48 trillion won for the third quarter, FnGuide said.

Analysts predicted Samsung's chipmaking division would power the company's third-quarter performance amid its stagnant smartphone business. Samsung is the world's top maker of memory chips and largest smartphone vendor.

"Samsung's strong memory chip business is expected to power the company's third-quarter growth," said Song Jong-ho, a researcher at KDB Daewoo Securities. "Samsung will particularly benefit from its expanded production of mobile DRAMs."

Lee Se-chul, an analyst at Woori Investment

http://www.globalpost.com/dispatch/news/yonhap-news-agency/130907/samsungs-q3-operating-profit-forecast-top-10-tln-won