Samsung Electronics, the world's No.1 memory chip maker, said it was on course to report a record quarterly profit, powered by robust sales of memory chips and flat screens in a strong consumer electronics market.
Samsung, also the world's largest maker of flat screen TVs, estimated its April-June operating profit at a median 5.0 trillion won ($4.09 billion), higher than a consensus forecast of 4.8 trillion won polled by Thomson Reuters I/B/E/S.
That would beat the previous record of 4.41 trillion won reported in the preceding quarter and almost double the year-ago quarter's 2.67 trillion won.
But earnings growth may falter in the second half as a strong price recovery in its mainstay memory chips loses steam amid an increase in supplies.
Though Samsung is leading rivals such as Sony Corp and Elpida Memory in earnings recovery, its emerging smartphone business faces a strong headwind from Apple Inc's iPhone.
(Reporting by Miyoung Kim; Editing by Jonathan Hopfner and Anshuman Daga)