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Samsung estimates its operating profit surged 80 percent in the 3rd quarter


SEOUL, South Korea — Samsung Electronics Co. says its third-quarter operating profit surged by 80 percent over a year earlier.

In an announcement that beat analysts' expectations, the South Korean smartphone maker said Wednesday that its operating profit for the July-September quarter was 7.3 trillion won ($6.3 billion).

The result shows that Samsung is on track for a recovery. Its operating profit has gained from quarter to quarter for the past year since falling to 4.1 trillion won one year ago.

Analysts say favorable foreign exchange rates, such as South Korean currency's sharp drop against the U.S. dollar, also helped Samsung.

Sales rose 7 percent to 51 trillion won for the quarter.

Samsung will announce its net profit and earnings breakdowns for each of its business divisions later this month.

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