Samsung Electronics shares rose Friday as the company announced that the operating profit of the September quarter at 15.8 trillion Korean won ($13.26 million) was expected to be 28% greater than the year before.

That’s set to be Samsung’s best quarterly profit in three years — since the third quarter of 2018 when Samsung posted a profit of more than 17.5 trillion won

Refinitiv SmartEstimate says Friday’s result was below analyst estimates of 16.1 trillion won.

Samsung shares rose by more than 1% during early trades, but lost some of the gains and traded at 0.42% lower.

Consolidated sales for the quarter likely rose to a record high of 73 trillion won — up 9% from a year ago.

South Korean tech giant Samsung did not breakdown the performance of each unit, even its most profitable semiconductor business.

The disruptions have affected operations at world’s biggest smartphone maker and chipmaker, however. global chip shortageand the pandemic coronavirus shuttered some of its factories around the world

“Both the operating and revenue are important.” [are]”Lower than our estimate and the market estimate,” stated SK Kim (executive director, senior analyst, Daiwa Capital Markets).

Samsung’s smartphone business was in part affected by shortages of semiconductors. Kim indicated that Samsung also likely experienced logistics issues for its consumer electronics division. Kim made the remarks Friday on CNBC.Squawk Box Asia” However, rising semiconductor prices had likely had an impact on Samsung’s components business.

Daiwa targets a price of 110,000 won, or about $92 per Samsung share. That’s more than 53% higher than Thursday’s close. It expects increased semiconductor prices to fuel the company’s earnings.

Chip shortage is beginning to affect the smartphone industrySamsung is a good example of this. AppleStockpiling crucial components such as memory chips has protected them from any fallout.

Late last month, Counterpoint Research lowered its smartphone shipment forecastsin the second quarter of 2021. It was stated that certain smartphone producers are not receiving the necessary components to create smartphones.

This month, the full results of September’s quarter will be released.

Samsung shares have fallen more than 11% in the past year.