Samsung Profit Beats Estimates on Surging Sales of Phones
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Samsung Electronics Co., the world’s biggest maker of TVs and mobile phones, reported record profit that beat analysts’ estimates and forecast intensifying competition as the global economy slows.
Net income in the three months ended Sept. 30 rose 91 percent to 6.56 trillion won ($6 billion), the Suwon, South Korea-based company said in a statement today. That compares with the 6.25 trillion-won average of 27 analyst estimates compiled by Bloomberg.