Samsung on Track for Record Third Quarter

Samsung Electronics said on Friday its third-quarter operating profit likely nearly tripled from a year earlier to a new record, beating analyst estimates, as strong memory chip prices fattened margins.

The Apple smartphone rival and global memory chip leader said third-quarter operating profit was likely 14.5 trillion won ($12.81 billion), compared with the 14.3 trillion won average of 20 analyst estimates in a Thomson Reuters poll.

Revenue likely rose 29.7% from a year earlier to 62...

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