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Samsung Sees 56% Decline In Q3 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its third-quarter operating profit will decline about 56.18 percent from last year, sales will also decrease 5.29 percent.

The company projects operating profit of about 7.70 trillion Korean won in the third-quarter, compared to 17.57 trillion won reported last year. While it reported operating profit of about 6.60 trillion won in the second-quarter.

The company also estimates third-quarter consolidated sales of about 62.00 trillion won compared to 65.46 trillion won last year. It reported consolidated sales of about 56.13 trillion won in the second-quarter.

Samsung did not announce the net profit for the third-quarter, nor the performances of respective business divisions.

Third-quarter earnings results will be released later this month.

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