Samsung Electronics estimates Q4 profit at record $8.3 bln

Mon Jan 7, 2013 6:33pm EST
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SEOUL Jan 8 (Reuters) - Samsung Electronics, the world's top maker of memory chips and handsets, estimated its October-December operating profit at a record 8.8 trillion won ($8.27 billion), as solid demand for its flat screens used in mobile devices added to robust profit growth in smartphones.

The South Korean firm's guidance - ahead of full quarterly results by Jan. 25 - was in line with an average forecast for 8.7 trillion won by 16 analysts polled by Reuters - and marks a fifth straight record quarterly profit for the world's biggest technology firm by revenue.

Samsung, valued at close to $230 billion, estimated its fourth-quarter sales at 56 trillion won, just a little below a market forecast for 56.6 trillion won.