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Samsung Electronics expects operating profit to reach record high in Q3

Samsung Electronics Co. Ltd. expects consolidated operating profit to reach a record high in the third quarter.

The South Korean smartphone maker said operating profit is projected to be in the range of 17.4 trillion South Korean won to 17.6 trillion won in the quarter, up from 14.87 trillion won in the second quarter and from 14.53 trillion won in the third quarter of 2017.

Sales are expected to be in the range of 64 trillion won to 66 trillion won, higher than 58.48 trillion won in the previous quarter and compared to 62.05 trillion won in the year-ago quarter.

Samsung's shares were up 0.22% at 44,800 won apiece as of 1:48 a.m. ET.

As of Oct. 4, US$1 was equivalent to 1,131.22 South Korean won.