Samsung's Q3 operating profit posts record $9.4 billion
The world's top maker of smartphones Samsung Electronics has beaten market expectations of a slowing smartphone market.
The tech giant estimated on Friday, that its operating profit was a record 10.1 trillion won, or roughly nine-and-a-half billion U.S. dollars, in the third quarter of this year.
This is a 25 percent rise from the roughly seven-and-a-half billion dollars recorded in the same period a year ago.
Market researcher FnGuide had previously predicted the company would see an operating profit of slightly over 9.2 billion dollars.
The company's sales in the July to September period were also estimated at a record 55 billion dollars, up 13 percent from a year earlier.
While Samsung Electronics didn't offer figures for each of its business units, experts say it was, as usual, the better-than-expected sales of the mobile business that led the record quarterly profit.
The profits from the mobile business took up over 60 percent of the total operating profit recorded in the second quarter of this year.
Analysts add that a rebound in the company's semiconductor business has also helped boost profits.
Some market watchers say, however, that Samsung's earnings for the fourth quarter of this year could slow down, as the tech giant is caught in tight competition with Apple,which is selling a new line of handsets at lower prices.
Hwang Ji-hye, Arirang News.
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