Handsets lead Samsung to another record profit
(Associated Press Via Acquire Media NewsEdge) SEOUL, South Korea (AP) — Samsung Electronics Co. had another record-high quarterly profit, thanks to revived semiconductor business and a record profit from handset sales.
The South Korean company said Friday its July-September net income rose 25 percent over a year earlier to 8 trillion won ($7.5 billion).
It's the seventh quarter in a row that Samsung renewed record-high earnings as consumers continued to snap up Galaxy smartphones.
What added to the robust profit from its mobile business during the third quarter was a big gain in Samsung's mainstay semiconductor business.
Third-quarter profit from its semiconductor business doubled over a year earlier as demand rose for memory chips used in mobile devices, servers and digital game consoles.
Samsung's mobile business posted a record-high profit. Samsung said shipments of its high-end smartphones, the Galaxy S4 and the Galaxy Note 3, remained the same level as the previous quarter while sales of cheaper smartphones went up.
Sales and operating profit reached all-time high levels. Sales rose 13 percent to 59 trillion won while operating profit amounted to 10 trillion won, up 26 percent.
The maker of Galaxy smartphones is the largest supplier of smartphone, memory chips and televisions.
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