“SAMSUNG closer” by opopododo is licensed with CC BY 2.0.

Technology giant Samsung Electronics has posted its earnings guidance for the third quarter of this year, revealing that it expects to see a year-over-year operating profit jump of 58%. The Korean company expects an operating profit in the ballpark of 12.3 trillion Korean won ($10.7 billion) on sales of 66 trillion Korean won ($57.3 billion). 

Such a profit would mark Samsung’s best performance since the third quarter of 2018 and substantially tops South Korean analysts’ consensus of 10.26 trillion won ($8.9 billion) of expected profit for the third quarter. Samsung Electronics’ three major businesses — consumer electronics, semiconductors, and smartphones — are expected to have strong performances during the third quarter of this year, bolstered by the recent launch of the Samsung Galaxy Note 20 Series smartphone. The company’s semiconductor business is also expected to benefit as a result of increased sever demand during a lockdown. 

Samsung will formally announced its third quarter results at the end of this month. 

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