by pna.gov.ph
South Korea's tech behemoth Samsung Electronics Co. is expected to solidify its market prowess further over its homegrown rival LG Electronics Inc. during the third quarter, a financial information provider said Monday.
According to FnGuide Inc., which averaged the business performance outlooks by more than three brokerages, Samsung Electronics will post 51.5 trillion won (US$ 46.4 billion) in sales and 7.5 trillion won in operating profit during the July-September period.
During the same period, LG Electronics is expected to register 12.9 trillion won in sales and 250 billion won in operating profit, respectively.
Based on the figures, Samsung Electronics' sales will be 3.99 times higher than those of LG Electronics, up from the corresponding figure of 3.7 in the second quarter.
Its operating profit will also be 30 times larger than that of the hometown rival, which is up from 19 tallied in the previous quarter, the market watcher said.
LG Electronics posted an operating loss of 31.9 billion won in the third quarter of last year, but it is expected to turn that around this year on the back of increased competitiveness in the smartphone market.
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