October 24, 2013 / 11:47 PM / 4 years ago

Samsung Elec reports record Q3 as chip profit hits 3-year high

SEOUL, Oct 25 (Reuters) - South Korea’s Samsung Electronics Co Ltd’s quarterly operating profit matched estimates with a 26 percent rise to a new record, powered by a strong recovery in its memory chip business as smartphone sales growth eases sharply.

The world’s top smartphone vendor said July-September operating profit rose to 10.2 trillion won ($9.6 billion), in line with its estimate.

Profits at its chip business doubled to 2.06 trillion won, its highest in three years.

The mobile division, Samsung’s biggest earnings generator, reported a record 6.7 trillion won profit as a greater variety of cheaper Galaxy smartphones boosted shipment volumes and helped counter weakening growth in the lucrative high-end segment. ($1 = 1061.0500 Korean won) (Reporting by Miyoung Kim; Editing by Stephen Coates and Richard Pullin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below