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Last updated: October 10th, 2017 at 10:28 UTC+02:00
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One of the conglomerate's other affiliates, Samsung SDI, also surged 4.5 percent when the market opened today. Samsung SDI is the affiliate that manufactures displays and batteries.
The company's share price hit a peak of 2.682 million won or $2,362 when the market opened earlier today. It has conceded some gains throughout the trading day, ending at 2.640 million won or $2,325. It's up 2.96 percent from the previous close.
Samsung's Q3 2017 results are due this Friday and analysts expect that the company will report record profits from its memory chip business. Some analysts have already raised the price target for the company's shares to 3.5 million won or $3,080.
Analysts expect Samsung to post an operating profit of 13.34 trillion won on earnings of 64.84 trillion won. Samsung posted record profits in the previous quarter as well. It actually became the most profitable tech company in the world. The company will certainly be looking to maintain the momentum.
Adnan Farooqui is a long-term writer at SamMobile. Based in Pakistan, his interests include technology, finance, Swiss watches and Formula 1. His tendency to write long posts betrays his inclination to being a man of few words.
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