Samsung Electronics estimates record profit
A Galaxy S III smartphone is seen on August 30, 2012, in Berlin. / Odd Andersen/AFP/Getty Images
SEOUL, South Korea Samsung Electronics estimates its third-quarter operating profit nearly doubled from a year earlier to an all-time high - likely driven by strong smartphones sales that offset weak semiconductor orders.
The company's Friday earnings preview estimated July-September operating income at $7.3 billion, higher than the market consensus of $6.8 billion.
The world's largest maker of mobile phones, memory chips and TVs estimated its quarterly revenue at $47.7 billion, a 26 percent growth from a year earlier.
Analysts believe Samsung's mobile division that sells smartphones, media players and tablet computers generated almost 70 percent of its operating income in the last quarter.
Samsung will announce its full quarterly results including net income and breakdown figures for each division toward the end of this month.
Popular on MoneyWatch
- Reverse cell phone lookup service is free and simple
- Forbes names most powerful women 2013 10 Photos
- Amy's Baking Company could face legal 'nightmare'
- Student loan defaults rising despite a way out
- Rent the cake? Unusual tips to cut your wedding bill
- Top 10 professional life coaching myths
- Amy's Baking Company: Post-meltdown PR campaign
- Fed uncertainty extinguishes rally