Samsung forecasts near-30% jump in Q3 operating profitThe coronavirus pandemic has wreaked havoc with the world economy but seen many tech companies boomSEOUL - South Korean tech giant Samsung Electronics defied the global supply chain challenges to forecast a near-30% jump in third-quarter operating profits on Friday. The world's biggest smartphone maker said it expected its operating profits to reach around 15.8 trillion won ($13.3 billion) in a regulatory filing, up 27.9% year-on-year. The company is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, the world's 12th largest economy. Samsung Electronics estimated sales for the July-September period at 73 trillion won, up 9.0% year-on-year -- a record for any quarter, a spokeswoman told AFP. Samsung's latest earnings estimate came after Lee Jae-yong, its vice-chairman and the de-facto leader of the wider Samsung group, walked out of prison in August.

Source: Bangkok Post October 08, 2021 00:11 UTC