[Daiwa: Samsung Electronics' preliminary third-quarter results remain solid, maintaining a "buy" rating] On October 9, Daiwa released a research report saying that Samsung Electronics' preliminary third-quarter results remained solid, with revenue of 195 trillion won, up 14% month-on-month and 127% year-on-year, slightly lower than the bank and market estimates; operating profit was 107.4 trillion won, up 20% month-on-month and 782% year-on-year, in line with the bank's estimate, but slightly lower than market consensus. Although the appreciation of the Korean won brought exchange headwinds and the drag on employee bonus provisions, the continued rise in memory prices, coupled with the improvement of mobile phone and display product mix, drove the performance to remain solid. In terms of memory, the bank estimates that DRAM/NAND bit shipments will record low-single-digit/mid-single-digit growth respectively month-on-month, and the average selling price of the two will increase by about 20%; wafer foundry losses are expected to narrow; display equipment and mobile phone business profits are also better than the bank's earlier expectations. The bank expects fourth-quarter earnings to further improve due to continued strength in memory, and expects the company to announce additional shareholder returns, including a repurchase plan, during its earnings conference call on October 29. The bank maintained a "buy" rating on Samsung Electronics and a 12-month target price of 500,000 won.