Samsung’s operating profits to surpass 7 trillion won

Operating profit of Samsung Electronics, the world’s largest smartphone supplier, is expected to reach over 7 trillion won ($6.2 billion) in the third quarter amid better-than-expected sales of its latest smartphone Galaxy S3, reports said yesterday.

Outlook reports by local securities firms expected Samsung’s third quarter operating profit to reach 7.5 trillion won, up 78 percent from the same period last year, with its quarterly sales rising 24.5 percent to 51.37 trillion won.

A 7.5 trillion won operating profit will mark the largest ever posted by the company, whose previous record of 6.7 trillion won was set in the second quarter ended June 30.

Such an outlook is helped by strong sales of the company’s Galaxy S3 smartphones, the latest of its Galaxy smartphone lineup.

In just about three months since its launch in late May, global sales of Galaxy S3 smartphones have surpassed 20 million units, the company said last week.

“Global sales of the Galaxy S3 in the third quarter were earlier estimated at 15 million units, but they are selling at a much faster rate than expected,” said Song Jong-ho, a researcher at KDB Daewoo Securities.

The company is also the world’s largest supplier of computer memory chips, as well as flat-screen televisions and liquid crystal display panels.

Yonhap