Samsung, the world’s biggest maker of flat panels, memory chips, flat-screen televisions, and the world’s second-largest handset maker after Nokia Corp. (NOK), said it expects to report an operating profit of KRW4.2 trillion (US$ 3.5 billion) for the three months ended Sept. 30, after earning a KRW4.86 trillion profit a year earlier.

Sales likely rose 1.9% to KRW41 trillion from KRW40.23 trillion a year earlier, Samsung said.

Seven analysts recently polled by Dow Jones Newswires forecast on average an operating profit of KRW3.33 trillion in the third quarter on sales of KRW42.97 trillion.

Samsung didn’t provide an explanation for the earnings guidance and said the latest forecasts may differ from actual earnings because it hasn’t completed an audit. The company is expected to announce actual numbers and a breakdown of earnings in each division later this month.

Analysts attributed the latest Samsung’s weak earnings estimates to the decreased sales of chips and liquid crystal displays, largely hurt by slowing demand for personal computers and televisions, but said a likely record profit from its mobile business has largely reduced the pressure on its bottom line during the quarter.

A murky demand outlook amid rising concerns over the global economy may continue to weigh on Samsung’s earnings. However, analysts said strong sales growth of non-memory chips and advanced flat displays, mainly driven by brisk sales of mobile devices, will likely make up for the slowing growth of Samsung’s computer memory chips and flat panels. The recent depreciation of the local currency against the dollar would also make Korean goods more price competitive and lift the company’s bottom line, they said.

Samsung didn’t disclose a net profit figure as part of its guidance. The just-released estimates are all based on International Financial Reporting Standards.

In the second quarter of 2011, the company saw an operating profit of KRW3.75 trillion on sales of KRW39.44 trillion.

SOURCE: http://www.marketwatch.com/story/samsung-electronics-tips-drop-for-q3-ops-profit-2011-10-06

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