The manufacturer of memory chips is benefiting from the global chip crisis.
(Photo: Reuters)
Seoul South Korean tech giant Samsung Electronics posted its highest profit in three years in the third quarter. Operating profit rose 28 percent to 15.8 trillion won ($ 13.48 billion) from July to September, compared to 12.35 trillion won a year earlier, the world’s leading manufacturer of memory chips and cell phones said Thursday. The result is due to the rising prices for memory chips and the brisk demand for displays, which have cushioned the increased costs for the production of entertainment electronics.
This enabled Samsung to increase its net profit by 31 percent to 12.3 trillion won. The company reported a ten percent increase in sales to a record 74 trillion won.
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