Samsung posts record profits

City A.M. Reporter
Samsung this morning posted record profits of $7.3bn (£4.5bn) in the third quarter, helped by strong sales of smart TVs and Galaxy smartphones.

The profit figure, which was nearly double last year’s figure, helped to offset weaker profits from the South Korean technology firm's chip business.

Ahead of full quarterly results due by October 26, Samsung estimated its operating profit in the three months to September jumped 91 per cent to 8.1 trillion won from a year ago, beating analysts’ expectations.

The company, valued at around $197bn, estimated its third-quarter revenue at 52 trillion won, in line with forecasts.