Saturday, October 6, 2012

Samsung operating profits nearly double

Samsung Electronics Co. forecast another record quarterly operating profit, likely driven by strong sales of high-end smartphones that offset weak semiconductor orders.

The guidance for Samsung’s third quarter earnings showed it was on track to report a record-high profit for a fourth straight quarter, despite legal tussles with Apple Inc. that resulted in a $1 billion compensation judgment in August

Samsung estimated in a regulatory filing that its July-September operating income nearly doubled to 8.1 trillion won ($7.3 billion) from 4.25 trillion won a year earlier.

Read more: Calgary Herald


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