Samsung projects record high profit for Q3 2018

Samsung had a less-than-stellar second quarter after the Galaxy S9 failed to keep its profit growth on pace, but the third quarter marks a return to form for the Korean tech giant. In fact, it expects to post record profits for Q3 2018. In its guidance report, the company said it estimates its consolidated operating profit to reach 17.5 trillion Korean won (US$15.5 billion) and its consolidated sales to reach 65 trillion won (US$57.5 billion). That's around 20 percent more than the 14.53 trillion Korean won profit it posted for the second quarter and could be a record high for the corporation.

Samsung will reveal more details, including how each of its divisions performed, by the end of this month in its complete earnings report. According to Bloomberg and Reuters, though, the chip division is still its biggest business, thanks to strong demand from data centers for cloud computing. In addition, it's been benefiting from a new production technology that allows the company to manufacture smaller and faster chips per silicon wafer.

While the chip division continues to do well, it remains to be seen if the company can reach even bigger numbers in the coming months. Chip prices are plummeting, and its upcoming foldable phones might not make a huge difference for its mobile business.