Samsung Electronics predicts record Q3 profits of £5.8b

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Analysts estimate Samsung has shipped between 85 million to 89 million smartphones in the third quarter

Samsung Electronics has estimated it will make a record profit of £5.8 billion in its third quarter (July, August, September).

The maker of the Samsung Galaxy S4 said today (October 4) that it expects an operating profit of between 9.9 trillion won (£5.8 billion) and 10.3 trillion won (£6 billion) for the three months ending September 30.

This is up between 22.8 per cent and 27.8 per cent from 8.06 trillion won (£4.7 billion) in the same period last year. Growth has slowed, however, with second quarter operating profit rising 47.5 per cent.

Sales are expected to be between 58 trillion won (£33 billion) and 60 trillion won (£35 billion), up by 11 per cent to 15 per cent from 52 trillion won (£30 billion).

Analysts estimate Samsung has shipped between 85 million to 89 million smartphones in the third quarter.

The company’s full financial results are scheduled for release at the end of October, when it is expected to break them down between its different divisions.

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