Samsung Expects to Post Record $9.4 Billion Profit for Q3

Samsung may overtake Apple as the most profitable consumer electronic company, or at least give it a run for its money.

Samsung announced Friday that it expects to report a record operating profit of 10.1 trillion won (or about $9.4 billion) in the third quarter ended Sept. 30. That’s up from $6.9 billion the previous quarter and $7.4 billion in the same quarter last year.Samsung Sold More Than 40 Million Galaxy Note Devices 

Apple, which has long been the most profitable company in the industry, has seen its profit decline year-over-year in each of the last two quarters. The company won’t report its numbers for the September quarter until later this month, but its profit in that quarter last year was $8.2 billion.