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Samsung projects strong quarter

Samsung Electronics Co. said on Tuesday that fiscal first-quarter operating profit could hit a new high as sales continue to improve, signalling that the company is set to spearhead the global consumer electronics industry’s recovery this year.

In particular, analysts say the electronics giant is expected to register higher sales for its key memory chip business over the next two quarters as global demand for a wide range of consumer products, such as personal computers and flat-panel televisions, remains robust.

Samsung Electronics, which is on the verge of surpassing Hewlett-Packard Co. to become the world’s largest high-tech company by revenue, said it expects consolidated operating profit for the three months ended 31 March to have been between KRW4.1 trillion (USD3.65 billion) and KRW4.5 trillion (USD4.01 billion), sharply higher than an operating profit of a revised KRW590 billion (USD525.1 million) in the first quarter of 2009.