Samsung Sees Third-Quarter Profit Decline

SEOUL, South Korea ( TheStreet) -- Samsung said Friday it expects third-quarter operating profit to decline from a year earlier on flat sales, but the numbers topped analysts' estimates.

Samsung, the world's No. 1 maker of memory chips, LCDs and TVs, said operating profit for the third quarter will come in at 4 trillion won and 4.4 trillion won ($3.7 billion), down from 4.86 trillion last year. Analysts surveyed by Thomson Reuters were expecting operating profit of 3.4 trillion won.

Sales are estimated at between 40 trillion won and 42 trillion won. A year earlier, Samsung posted sales of 40.23 trillion won last year.

In a statement, the company didn't provide a reason for its third-quarter estimates, although analysts think the quarter was buoyed by a rise in smartphone shipments.

-- Written by Joseph Woelfel

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