1/6/2012 10:28:35 AM
Samsung predicting strong Q4 in latest results
Samsung is predicting its fourth quarter profits will increase by 72.4% as the electronics giant released its latest financial guidance figures.
The Korean company said it expects a profit of 5.2 trillion Korean won (£2.88bn) for its fourth quarter trading, up from 3.1 trillion won for its 2010 financial year. The manufacturer predicted fourth quarter sales of 47 trillion won (£26.1bn), up 12.25% on 2010.
Fourth quarter sales and profit are set to improve on third quarter performance, the company said.
Analysts suggested smartphone and television sales contributed to the strong performance. Hana Daetoo Securities analyst Lee Ka-Keun said: 'Samsung's fourth quarter smartphone shipments are estimated at around 35 million units, which means it will continue keep its top spot.'