Samsung Electronics on Friday said it was expecting record operating profits of about 14.5 trillion Korean won ($12.8 billion) for the September quarter, seeing a massive jump of nearly 179 percent from the same period a year earlier.

That estimate beat a Reuters average forecast of 14.3 trillion Korean won in operating profits.

The South Korean tech giant also said it expected consolidated sales to be about 62 trillion Korean won, a touch lower than the 62.1 trillion won market forecast.

Over recent quarters, the world’s largest maker of memory chips, smartphones and other electronics products has seen its booming semiconductor business as a major earnings driver.

Source: cnbc china
Samsung predicts record profits for third quarter as memory business booms