Samsung expected to post record operating profit

Samsung Electronics is expected to post a record operating profit of 17.2 trillion won ($15.4 billion) in the third quarter, backed by firm demand for memory chips, market sources said Tuesday.

The consensus by major brokerage firms marks an 18.5 percent on-year increase in the tech behemoth’s profit for the July-September period.

The revenue is forecast at 65.2 trillion won, up 5.1 percent from a year ago.

The company is expected to release its third-quarter earnings preview next Friday.

The world’s top smartphone maker logged a record high 65.9 trillion won in sales in the fourth quarter of last year and a record high of 15.6 trillion won in operating profit in the first quarter of this year.