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South Korean tech giant Samsung Electronics Co. is forecast to report more than 10 trillion won ($8.5 billion) in operating profit in the third quarter for the first time in two years, thanks to brisk sales of electronics ranging from smartphones to TVs and a rise in sales of premium semiconductor products.

According to Seoul-based market tracker FnGuide on Sunday, Samsung Electronics’ operating profit in the July to September period would jump 30 percent from the same period a year ago to 10.11 trillion won. The figure was revised upward from the previous projection of 9.05 trillion won last month.

Last time when Samsung Electronics’ quarterly operating profit surpassed 10 trillion won was in the fourth quarter in 2018. Its sales for the third quarter are also estimated to gain 3.2 percent on year to 64 trillion won on a recovery in sales across the board – smartphones, TVs, and home appliances.

“Samsung Electronics is expected to post an earnings surprise in the third quarter thanks to the improved profits from chip sales on an increase in sales of premium products and cost saving despite the weakening memory chip prices, as well as brisk sales at its IT & Mobile Communications (IM) division and Consumer Electronics (CE) division,” Hyundai Motor Securities analyst Noh Geun-chang said.

On Monday, shares of Samsung Electronics rose 0.52 percent to close at 58,200 won.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]