The South Korean conglomerate said on Friday it expects to post operating profit of around 9 trillion Korean won ($ 8.2 billion) for the October-December quarter, an increase from the same period a year earlier, but somewhat different from analysts’ estimates.
The company forecast sales of some 61 trillion Korean won ($ 56 billion), in line with the expectations of analysts polled by Refinitiv.
The company has not specified its earnings, but will release full fourth quarter results at the end of this month.
Still, analysts expect earnings in 2021 to be strong as sales of smartphones and memory chips increase. Daiwa analyst SK Kim pointed to the upcoming release of the Samsung Galaxy S21 as a bright spot.
“We see [Samsung] the launch of the Galaxy S series, its flagship line, earlier than before by the end of January 2021, which we believe will lead to a strong rebound in smartphone shipments, ”Kim wrote in a research note earlier this week.