Samsung Sees About 32% Decrease In Q3 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its third-quarter operating profit will decrease about 31.73 percent from last year, due to weak demand for electronic devices and memory chips amid global economic uncertainty. But the company projects quarterly sales will increase 2.73 percent.

The South Korean tech giant projects operating profit of about 10.80 trillion Korean won in the third-quarter, compared to 15.82 trillion won reported last year. While it reported operating profit of about 14.10 trillion won in the second-quarter.

The company also expects third-quarter consolidated sales of about 76.00 trillion won compared to 73.98 trillion won last year. It reported consolidated sales of about 77.20 trillion won in the second-quarter.

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

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