SEOUL (Reuters) – Samsung Electronics flagged slightly better than expected third quarter profit on Tuesday, helped by strong sales of its new Galaxy Note 10 smartphone series even as a slump in its memory chip business continued to weigh on earnings. FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, July 4, 2017. REUTERS/Kim Hong-Ji/File Photo In a regulatory filing ahead of detailed earnings due later this month, the South Korean tech giant said operating profit for the July to September quarter would likely tumble 56% to 7.7 trillion won ($6.44 billion). That was slightly better than the 7.1 trillion won forecast by Refinitiv SmartEstimate data, thanks to sales of the Galaxy 10 series both at home and in Europe since its launch on Aug 23. Samsung, the world’s largest smartphone maker, said it has sold more than 1 million of the 5G handsets in South Korea, making it the company’s fastest selling flagship model at home. Analysts said that Samsung benefited from U.S. sanctions on Huawei Technologies Co Ltd that effectively bar U.S. firms from supplying its Chinese rival. Huawei new Mate 30 smartphones are being shipped to Europe this month,… Read full this story
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UPDATE 2-Samsung's Q3 profit estimate exceeds expectations on smartphone sales have 274 words, post on feeds.reuters.com at October 7, 2019. This is cached page on IT Breaking News. If you want remove this page, please contact us.