Last update: 07-Dec-2013 3:12 am
Saturday, December 07, 2013
Trinidad & Tobago Guardian Online
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Chip growth leads Samsung to record profit
SEOUL, South Korea—Samsung Electronics Co reported another record quarterly profit as a revival in its semiconductor business and strong shipments of cheaper handsets offset flat sales of high-end smartphones. The South Korean company, which is the world’s largest maker of smartphones, memory chips and televisions, said its July-September net profit rose 25 per cent over a year earlier to 8 trillion won (US$7.5 billion).
It was the seventh quarter in a row that Samsung posted record earnings. Growth was driven by semiconductors and sales of cheaper smartphones in contrast to previous quarters that relied on premium smartphones. Third-quarter profit from its semiconductor business doubled over a year earlier to 2.06 trillion won as demand rose for memory chips used in mobile devices, servers and digital game consoles.
Samsung’s mobile business posted a record profit, contributing nearly 70 per cent of the company’s total operating profit. However, growth in sales of premium smartphones, the Galaxy S4 and the Galaxy Note 3, came to a halt during the third quarter, staying at the same level as the previous quarter.
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