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In the regulatory filing, Samsung Electronics said its operating profit could plummet 56% to 7.7 trillion won ($6.44 billion) between July and September. The company will release detailed results later this month.
The initial estimated profit is slightly better than the 7.1 trillion won predicted by Lufford Smart Estimate data, thanks to the Galaxy 10 series, which has been selling well in Korea and Europe since its launch on August 23.
Samsung, the world's largest smartphone maker, said it had sold more than 1 million 5G phones in South Korea, making it the flagship mobile phone company's fastest selling product in the country.
Analysts said Samsung benefited from the US sanctions against the US. The US sanctions actually prohibit us companies from supplying China with parts.
The new Mate 30 smartphone has been shipped to Europe this month, but the sanctions act means that the product has no authorized version of the GOOGL.O (Play) operating system, and mobile services including popular Play Store and Gmail, Youtube and Maps.
"As long as the HUAWEI ban is not lifted, Samsung is likely to be more popular in the European smartphone market, and may even attract consumers who have abandoned Samsung to HUAWEI to buy Samsung products," said Park Sung-soon, analyst at Cape Investment & Securities.


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