Samsung's Galaxy powers record $5.9 billion profit
Photo of a man trying Samsung Electronics’ new Galaxy S III smartphone that is on display at a store in Seoul
In its April-June earnings guidance on Friday, Samsung, valued at $170 billion and the world’s leading maker of TVs, smartphones and DRAM memory chips, estimated operating profit jumped 79 percent to 6.7 trillion won from a year ago – in line with an average forecast in a Reuters survey of 23 analysts.
That would be 14.5 percent higher than the previous record quarterly profit in January-March. Samsung estimated its second-quarter revenue at 47 trillion won ($41.4 billion), just below a 50 trillion won forecast.