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Samsung likely to post 35% surge in Q3 profit as smartphone sales recover

Last year Samsung's chip business accounted for roughly half of its profit

Samsung Electronics | Q3 results

Reuters  |  SEOUL 

By Joyce Lee SEOUL (Reuters) - Samsung Electronics Co Ltd's <005930.KS> September-quarter profit likely surged more than a third, fuelled by strong smartphone sales and a rush order of memory chips from Huawei Technologies Co Ltd [HWT.UL], analysts said. Samsung, the world's biggest memory chip supplier, is scheduled to announce preliminary July-September operating profit and revenue on Thursday. Profit likely rose 35% to 10.5 trillion won (£7.04 billion) from the same period a year earlier, according to Refinitiv SmartEstimate, derived from analyst ...

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First Published: Wed, October 07 2020. 08:19 IST