The world's biggest smartphone maker said in a brief filing on Friday that its operating profit for July-September was likely 7.8 trillion won (US$7 billion), compared with the 7.4 trillion won tipped by a Thomson Reuters StarMine SmartEstimate of analysts' forecasts. A year earlier operating profit was 7.4 trillion won. Revenue for the quarter likely fell 5.2% to 49 trillion won, the South Korean firm said, less than the Thomson Reuters StarMine SmartEstimate of 51.1 trillion won. Paul Romano, chief operating officer at U.S.-based electronic component distributor Fusion Worldwide, said the firm's clients, which include Samsung, are currently having a harder time procuring memory chips. Samsung shares were up 0.5% at 1.7 million won at 0220 GMT, compared with 0.3% fall for the broader market.

Source: The Edge Markets October 07, 2016 04:18 UTC