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Samsung Sees About 27.9% Rise In Q3 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its third-quarter operating profit will rise about 27.94 percent from last year, reflecting increasing prices for semiconductors and strong demand for its foldable smartphones. It projects quarterly sales will increase 9.02 percent.

The South Korean tech giant projects operating profit of about 15.80 trillion Korean won in the third-quarter, compared to 12.35 trillion won reported last year. While it reported operating profit of about 12.57 trillion won in the second-quarter.

The company also expects third-quarter consolidated sales of about 73.00 trillion won compared to 66.96 trillion won last year. It reported consolidated sales of about 63.67 trillion won in the second-quarter.

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

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