LONDON – Consumer electronics giant Samsung Electronics Co. Ltd. has said that, despite rising sales, its third-quarter operating profit is likely to fall from Q2's record high, according to an Associated Press report.
Samsung (Suwon, South Korea) now expects an operating profit of between 4.6 trillion won and 5 trillion won ($4.1 billion and $4.5 billion) on sales of between 39 trillion won and 41 trillion won ($34.5 billion and $36.5 billion) for the third quarter.
In Q2 Samsung, which sells both components such as DRAMs and LCD panels and a wide variety of consumer electronics equipment including TVs and mobile phones, achieved a record operating profit of 5.01 trillion won (about $4.5 billion) on revenues of 37.89 trillion won (about $33.7 billion).
Samsung gave no reason for its operating profit to decline, the report said.
The outlook is deteriorating due to a resumption of falling memory chip prices and slowing momentum in the global information technology industry, the report quoted Lee Min-hee, an analyst at Dongbu Securities in Seoul, as saying.
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