Samsung Sees Quarterly Earnings at new High
Samsung Electronics Co. forecast another record quarterly operating profit, mainly because of strong sales of high-end smartphones. This record-high profit for a fourth straight quarter comes despite legal tussles with Apple Inc. that resulted in a $1 billion compensation judgment in August
According to Washington Post reports, analysts consider a rise in marketing spending will decrease the company’s profit in the October-December quarter.
Samsung estimated that its July-September operating income nearly doubled to 8.1 trillion won from 4.25 trillion won a year earlier. The result was better than the market consensus of 7.6 trillion won, according to a poll of 26 analysts by FnGuide Inc.
Samsung is also trying to overturn the U.S. jury’s verdict that it should pay Apple $1 billion for patent infringements. The judge’s decision is expected in December.
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