Samsung Electronics has provided its earnings guidance for the third quarter of 2018, estimating record operating profits of about KRW17.5 trillion (US$15.5 billion) on consolidated revenues of approximately KRW65 trillion.

Samsung expects to post operating profits of between KRW17.4 trillion and KRW17.6 trillion in the third quarter of 2018, up from KRW14.87 trillion in the prior quarter and KRW14.53 trillion a year ago. The forecast range also comes above its current record high of KRW15.6 trillion set in the first quarter of 2018.

Samsung forecast revenues for the third quarter will climb to KRW64-66 trillion, up from the KRW62.05 trillion posted during the same period in 2017. The guidance range is also above KRW58.48 trillion in the prior quarter.

Samsung will release detailed results for the third quarter and also provide a business outlook for the rest of 2018 later this month.

Samsung saw its semiconductor division enjoy record-high earnings in the second quarter of 2018. However, the chip unit's strong profits were offset by falling earnings from the company's smartphones and display operations during the quarter.

Samsung reported second-quarter operating profits fell nearly 5% on quarter but increased 5.7% from the same period in 2017. The semiconductor business accounted for as high as 78% of Samsung's overall operating profits during the quarter.