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Samsung Sees Record Operating Profit In Q3

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Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) said it expects that its third-quarter operating profit will increase about 20.44 percent from last year, a record for any quarter, led by solid demand for its memory chips used in mobile devices. It also projects sales will increase 4.75 percent.

The company projects operating profit of about 17.50 trillion Korean won in the third-quarter, compared to 14.53 trillion won reported last year. While it reported operating profit of about 14.87 trillion won in the second-quarter.

The company also estimates third-quarter consolidated sales of about 65.00 trillion won compared to 62.05 trillion won last year. It reported consolidated sales of about 58.48 trillion won in the second-quarter.

Final earnings results will be released later this month.

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