Samsung set for best quarterly profit in 3 years

Some wondered if folding smartphones would be more than a gimmick.

But now it looks like they're generating real revenue for Samsung Electronics.

The South Korean giant is expected to post record sales and its best quarterly profit in three years when it reports on Friday (October 8).

Analysts forecast an operating profit of $14 billion, up almost a third on a year earlier.

Estimated sales of 2 million folding phones every month are one driver.

That's since the latest Galaxy Fold and Flip models launched in August.

The chip division is booming too though, with sales there seen up 79% on the year.

Prices for all kinds of memory chips rose strongly over the period, boosting sales.

Though there is now an industry view that prices may have peaked, analysts say any dip won't last long.

Samsung is also cushioned from any decline in one sector by the wide variety of products it makes.

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