Samsung Electronics said it expects to report third-quarter sales of KRW 66 trillion and operating profit of KRW 12.3 trillion. That means year-on-year revenue growth of 6.5 percent and profit up 58 percent.

The results are also up strongly compared to Q2 2020, when Samsung reported sales of KRW 52.97 trillion and operating profit of KRW 8.15 trillion. Samsung said then that it expected a gradual recovery in market demand from the second half, following the coronavirus lockdowns that disrupted supply chains and retail sales in the first half of the year.

The company also released several new products during Q3, including the new Note20 smartphones, more wearables and tablets, its latest foldable device and additional 5G phones. These are expected to support demand through the year-end shopping season.

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