Samsung expects 27.9% rise in Q3 operating profit

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Samsung Electronics expects that its third-quarter operating profit will rise about 27.94 per cent compared to the 2020 profit.

The company said it reflects increasing prices for semiconductors and strong demand for its foldable smartphones.

Its projected quarterly sales will increase by 9.02 per cent.

“The South Korean tech giant projects operating profit of about 15.80 trillion Korean won, in the third-quarter, compared to 12.35 trillion won reported in 2020.

“In the second quarter, the operating profit was about 12.57 trillion won.’’

The company also expects third-quarter consolidated sales of about 73.00 trillion won compared to 66.96 trillion won recorded in 2020.

Meanwhile, it reported consolidated sales of about 63.67 trillion won in the second-quarter.

Third-quarter earnings results will be released later this month.

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