Hong Kong (CNN Business) Samsung (SSNLF) predicts its profit jumped nearly 60% last quarter, suggesting it could soon retake its position as the world's top smartphone seller from embattled Chinese rival Huawei. The South Korean conglomerate said on Thursday that it expects to make an operating profit of roughly 12.3 trillion won ($10.6 billion) for the July-September quarter. Samsung said it expects sales for the third quarter will rise about 6% to 66 trillion won ($57 billion). Analysts polled by Refinitiv had predicted 63 trillion won in sales ($54.5 billion). Samsung, which did not elaborate on earnings, will report full results for the third quarter at the end of this month.

Source: CNN October 08, 2020 03:56 UTC