Samsung to report profits of £4.5bn

The Guardian published information on South Korean technology giant quarterly operating profit today. Samsung Electronics claims to report a record quarterly operating profit of 8.1tn Korean won which is about £4.5bn and it is nearly double last year's and up 25% sequentially. This is mainly thanks to strong sales of high-end TVs and Galaxy smartphones.

Samsung may have spent around $2.7bn on marketing in period July to September alone around the London Olympic Games, being a main sponsor, and new Galaxy promotions, Credit Suisse has estimated.

This year's expected record profit of 28tn won will also be related to higher payouts of Samsung's 206,000 staff early next year. Analysts expect earnings to decline until the second quarter of next year as a slump in computer sales and a weak global economy sap demand for chips and electronics products.

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