Samsung Galaxy phones drive record 7.3 billion profit

Samsung Electronics Co, the world's biggest technology firm by revenue, estimated its July-September operating profit at a record 8.1 trillion Korean won (RM21.9 billion), driven by strong sales of its Galaxy smartphones.

The South Korean firm's guidance - ahead of full quarterly results by October 26 - was higher than an average forecast of 7.6 trillion won by 16 analysts polled by Reuters.

Samsung, valued at around US$197 billion, estimated its July-September sales at 52.0 trillion won, compared with a market forecast for 51.7 trillion won.

Samsung shares have risen 7.2 per cent since a US court ruled on August 24 that the Korean firm copied parts of rival Apple Inc's iPhone and awarded the California-based firm more than US$1 billion in damages. Apple is up less than one per cent.

Source: Reuter