Samsung Electronics Co. estimated on Friday that its third-quarter operating profit would reach 17.5 trillion won ($15.5 billion), largest-ever three-month performance on the back of still-sizzling chip demand. Operating profit, meanwhile, is set to hit 17.5 trillion KRW ($15.5 billion), up 20.4 percent compared to the same quarter a year ago and 18 percent more than the previous quarter.
With its third-quarter operating profit exceeding 700 billion won, however, will likely post an annual profit of 3 trillion won for the first time in 2018.
Samsung Electronics is forecast to post a record operating profit in the July-September period thanks to its robust semiconductor sales, according to the firm's earnings guidance on October 5.
With the area responsible for around 80 percent of Samsung's quarterly operating profit, however, industry watchers said the company will need to diversify its portfolio to evade potential pitfalls down the road.
Chips account for almost 80% of its operating profit, according to Reuters.
Federal Bureau of Investigation report 'shows no Kavanaugh misconduct'
Both said they wanted the FBI investigation, and both denounced Trump's mockery of Ford this week in Mississippi. In the case of a 50-50 tie, Vice President Mike Pence might break it in favor of Kavanaugh.
What will be interesting to see is if Samsung's smartphone business can stem the tide after seeing a 22 percent decline in revenue in the previous quarter. The semiconductor business accounted for as high as 78% of Samsung's overall operating profits during the quarter.
"The recent starting of additional production line manufacturing DRAM and NAND flash of the company's memory plant in Pyeongtaek, Gyeonggi, is said to have contributed to the robust sales of the company's memory chips", said Doh Hyun-woo, NH Investment & Securities analyst.
Sales for the third quarter were 65 trillion won, matching the average projection compiled by Bloomberg.
Apple expects fiscal fourth-quarter revenue to be between US$60bn and US$62bn, against analysts' estimates of $59.5bn.
Samsung won't provide net income or break out divisional performance until it releases final results later this month. Chip costs are diving, and its up and coming foldable telephones probably won't have an enormous effect on its mobile business. The third-quarter report was announced before the market started trading.