Samsung posts record Q3 profits

Samsung has revealed its financial results for the third quarter ended 30 September 2017.

It posted quarterly revenue of 62.05 trillion Korean Won (R780 billion), an increase of 29.8% compared to the previous year. Operating profit for the quarter was a record KRW 14.53 trillion (R180 billion), an increase of 179% compared to the previous year.

Strong demand for high-performance memory chipsets for servers and mobile devices contributed to the company’s overall performance, said Samsung. Its semiconductor business saw significant earnings, while the display panel segment posted an earnings decline – despite expanded sales of flexible OLED panels. The mobile business saw strong shipments thanks to the launch of Galaxy Note 8 and the new Galaxy J series.

Its quarterly earnings declined, however, due to higher sales of mass-market smartphones.

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