Net profit of the South Korean electronics manufacturer Samsung Electronics in the third quarter of 2017 increased by 2.5 times compared to the same period in 2016 and amounted to 11.19 trillion won (9.9 billion dollars), the company said..

Analysts polled by Bloomberg, expected that the figure would be about 10.8 trillion won (9.6 billion dollars).

The company's revenue for the period increased by 29.7% to 62.05 trillion won (55.2 billion dollars). Operating profit reached 14.53 trillion won (12.9 billion dollars), an increase of 2.8 times compared with the same figure a year ago.

At the same time, the operating profit of the company's mobile business grew 33-fold, to 3.29 trillion won (2.9 billion dollars).

Samsung expects that demand for smartphones and tablets will grow in the fourth quarter due to seasonal factors, while the launch of new products by competitors will strengthen competition in the premium segment.

Samsung Electronics is an international electronics manufacturing company: semiconductors, telecommunications equipment, memory chips, liquid crystal displays, mobile phones and monitors. The company's headquarters is in Seoul (South Korea).