Samsung predicts record profit

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SamsungLogo REUTERS Samsung shareholders vote on Friday over a $8 billion merger. Photo: Reuters.

South Korea's Samsung Electronics Co on Tuesday estimated its operating profit for the fourth quarter at a record 8.8 trillion won (8.3 billion dollars).

The estimated operating profit for the electronics manufacturer would represent a rise of 88.8 per cent from the same quarter a year earlier and 9.2 per cent from the third quarter.

Fourth-quarter revenue was predicted at 56 trillion won, up 18 per cent from a year earlier.

The company, which leads the smartphone market with its Galaxy range, said it was also on track for record annual earnings.

Samsung did not provide a breakdown by product line, but mobile phones made up two-thirds of the revenue for the Apple Inc competitor in the previous quarter, and several news reports quoted analysts as saying strong Galaxy sales probably underpinned the latest revenue performance. - Sapa-dpa

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