Samsung Electronics is poised to set a fresh earnings record in the third quarter of this year. The company estimates an operating profit of W8.1 trillion for July to September, up over 90 percent from $3.6 billion a year earlier.
The figure beats analysts' estimates, most of whom an operating profit of around $6.8 billion.
Surging sales of mobile phones were the main driving force, offsetting slumping sales in the memory chip business. Third-quarter earnings in the company's mobile phone division nearly doubled to $4.4 billion, fueled by the May debut of the Galaxy S3. Over 20 million units of the phone were sold in the 100 days after its launch.
Despite Apple's recent launch of the iPhone 5, analysts expect the Galaxy smartphones to lead the global market, paving the way for further profits in the remaining quarter. Samsung recently launched the Galaxy Note 2, which comes with a stylus and larger screen. The first Note sold more than 10 million units worldwide.