LG Electronics operating profit up 44.4 pct in Q3

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Samsung, in a regulatory filing, said the July-September profit was likely 17.5 trillion won (S$21.4 billion), up 20.4 per cent from the same period a year earlier.

The figure surpassed the previous record of 15-point-six trillion won set in the first quarter.

Samsung expects to post operating profits of between KRW17.4 trillion and KRW17.6 trillion in the third quarter of 2018, up from KRW14.87 trillion in the prior quarter and KRW14.53 trillion a year ago.

The company did not provide detailed descriptions of the performance of its business and segment results. The giant south Korean company will reveal its results division by division with its quarterly report final, which is expected at the end of October. The revenue is an over 20 per cent increase (year on year) and almost 12 per cent high from the first quarter of this year, apparently on the back of robust returns from its chip business. Revenue likely rose 4.8 per cent to 65 trillion won, matching the average of Refinitiv estimates. Sales of the Galaxy S9, which was released in the second quarter, are middling, and the company is believed to have spent a large amount on marketing the Galaxy Note9, which was released in August.

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We'll have to wait until the fully fledged report for Q3 2018 gets released by Samsung in coming days to find out if the chip division is indeed performing so strongly. Despite the weaker outlook over the global chip industry, industry watchers said Samsung still sought to expand sales by finding new business opportunities, while also enjoying strong seasonal demand.

"Falling chip prices will pressure profits while its smartphone shipments are not satisfactory and will continue to crimp margins", said Song Myung-sup, a senior analyst at HI Investment & Securities. ZDnet later reported that it expects chip profits to make up at least 70 percent of the total for this quarter.

Price for memory chip, Samsung's best-selling product, was forecast to fall in the fourth quarter, while uncertainties lingered over the overall export amid the trade conflict among major economies.