[THE INVESTOR] Hyundai Securities on Aug. 22 said that Samsung Electronics’ operating profit could reach 8.5 trillion won (US$7.54 billion) in the third quarter, adjusting the stock target price to 1.88 million won from the previous 1.7 million won.

The securities firm predicted the Korean tech giant’s third-quarter operating profit to increase 15 percent to 8.5 trillion won from a year ago. Sales were estimated at 52 trillion won, up 1 percent on-year. 

Kim Dong-won, an analyst at the firm, said the hot-selling Galaxy Note 7 could see more than 12 million shipments in the latter half of this year, while parts businesses such as for displays and chips would drive up profits.

He added Samsung’s operating profit for the whole year could exceed 30.8 trillion won, the highest in three years.

By Lee Ji-yoon (jylee@heraldcorp.com)