SAMSUNG PROFIT RISES 26% ON SMARTPHONE BOOST


Samsung Electronics has reported a 26 per cent jump in profit in the third quarter driven by strong smartphone sales and a recovery in its memory chip business.


It made a net profit of 8.24 trillion won ($7.6bn; E4.7bn) in the july-to-September quarter, up from 6.56tn won during the same period a year earlier.

Operating profit rose to a record 10.2 trillion won during the quarter.
The firm said sales of smartphones, a key driver of its growth, are expected to risee further in coming months.

It said that sales “will gain momentum due to year-end promotions over the holiday season and an improved line-up of mass-market smartphones”.
Samsung has posted record operating profit in six of the past seven quarters, mostly due to the growth of its smartphones.

Its growth in the sector has seen it become the world’s biggest smarttphones maker.

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