Samsung Electronics tips record-high profit at $12 billion

SEOUL, South Korea— Samsung Electronics said Friday its second-quarter operating profit soared 72 percent over a year earlier to the highest in its history as its semiconductor sales helped defy sluggish growth in the smartphone market and a slow recovery in the global economy.

 

In its earnings preview, the South Korean tech giant put its April-June operating profit at 14 trillion won ($12.1 billion), compared with 8.1 trillion won ($7 billion) a year earlier. Sales rose 18 percent to 60 trillion won ($51.9 billion).

 

The stunning result beats already-high expectations and puts Samsung on track to report the highest profit in its history for the full year. Analy…

Keep on reading: Samsung Electronics tips record-high profit at $12 billion

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