Samsung predicts a return to record profits in Q3

Samsung Note 9

South Korea's LG Electronics Inc said on Friday its third-quarter operating profit likely rose 44.4 percent from the same period a year earlier, slightly below analysts' estimates.

The company said its operating profit will come in at around 17.5 trillion won ($15.8 billion), a 20 percent increase from the year-ago period.

It was the highest-ever quarterly profit in the company's history, surpassing the market expectations of 17.17 trillion won (15.2 billion US dollars).

Samsung Electronics is forecast to post a record operating profit in the July-September period thanks to its robust semiconductor sales, according to the firm's earnings guidance on October 5.

The company did not provide detailed data for each business division; as with Samsung, finalized earnings will be made public later in the month.

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Samsung Electronics announced its earnings for the third quarter, the company earned approximately 57,5 billion dollars.

Song Myung-sup, a senior analyst at HI Investment & Securities, expects DRAM chip prices to slide about 5 percent in the fourth quarter from the previous quarter, while NAND chip prices are seen dropping 10 percent.

The higher margins for flexible screens Samsung is supplying for the new range of iPhones helped boost earnings, Kim said.

Sales of the flagship Galaxy 9 smartphone were lower than expected in the second quarter, and Samsung now faces stiff competition from handset rivals at the luxury end of the market, including iPhone maker Apple Inc. Despite the overall falling prices of chips, healthy demand from data centres for cloud computing is seemingly turning the tech powerhouse's fortunes around - so much so, that it has hinted that it will likely post record profits for Q3 2018.

The results could alleviate pessimism over demand for memory chips, even though there's remaining doubt whether customers will continue their buying next year. Last year, Huawei recorded a 32% increase in device sales, to about 237.2 billion Chinese yuan ($30 billion).

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