Samsung expects profits to jump by more than 1,400%

Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year. The announcement pushed Samsung shares up more than 2% during early trading hours in Seoul. The firm also reported a more than 10-fold jump in its profits for the first three months of this year. In this quarter, it said it is expecting its profit to rise to 10.4tn won, from 670bn won last year. Samsung Electronics is the flagship unit of South Korean conglomerate Samsung Group.

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