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Samsung Electronics predicts record profits for third quarter Updated: 2017-10-13 09:00:43 KST

Let's get straight to those figures from Samsung Electronics.
The company is roaring back after its well-documented problems last year.
Let's get the numbers from our Kim Hye-sung, who's on the line for us.
Hye-sung, Samsung must be feeling confident with this earnings guidance


Good morning, Mark.
As you mentioned in your headlines, Samsung Electronics has reported record profits for the third quarter.
The tech giant said Friday it expects record operating profits of about 12.8 billion U.S. dollars for the June to September period, almost tripling from the same period last year.
The estimate beats Thomson Reuters average forecast of 14.3 trillion Korean won, or 12.6 billion dollars, in operating profits.
Samsung reported better than projected profits on rising demand for displays and memory chips with ever greater processing power.
Sales of the Galaxy Note 8 smartphone, launched in mid-September, further helped lift its mobile profits as it recovered from last year's Note 7 fiasco.
Samsung will release its net income and break down its performance by division when it releases its final results later this month.
As for revenue, it also rose nearly 30 percent on-year to 54.7 billion dollars, similar to the market forecast.

Great news for Samsung then, but also good for Korea's stock market as Samsung Electronics is the biggest company on the KOSPI.
How is the market reacting to the news?

Mark, the KOSPI opened slightly higher than yesterday's record 24-hundred 75.
It's been moving quite a bit, but as of nine thirty a.m., it was up by half-a-percent.
As of this year, Samsung's share price has climbed more than 50 percent, closing at a record high of two.seven-four million won or more than 24-hundred U.S. dollars on Thursday.
With the earnings estimates beating market expectations, it's likely the KOSPI will set yet another record to finish the week, but we'll see how it goes over the course of the session.
Back to you, Mark.
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