Samsung's third-quarter profit rose 9.6 billion to 26% record

Phoenix Technology News Beijing Time October 25, according to Reuters, Samsung Electronics today released the third quarter of 2013 earnings. Boosted by a strong recovery in the memory chip business, Samsung's third-quarter operating profit hit a record 10.2 trillion won (about $9.6 billion), up 26% per cent year-on-year. Samsung's third-quarter revenue was 59.1 trillion won (about 55.6 billion U.S. dollars), roughly in line with the previous 59 trillion won forecasts. Operating profit of 9.6 billion U.S. dollars, an increase of 26% per cent, net profit of 8.05 trillion won (about 7.6 billion U.S. dollars), compared with the same period last year 6.42 trillion won growth of 25%. As Samsung's biggest source of profits, the mobile division's third-quarter profit hit a record 6.7 trillion won, a result of a number of galaxy cheap smartphones that have lifted shipments and helped offset the company's sluggish growth in the high-end market. Samsung chip business profits rose by one to 2.06 trillion won, a three-year high, with consumer electronics earning 350 billion won, less than 400 billion won in the same period last year, and showing its operating profit of 980 billion won, less than the 1.17 trillion won in the same period last year. (Compiling/Xiao Yu)