Samsung’s Profit Climbs 26 Percent

Samsung Electronics Co. said its third-quarter net profit rose 26 percent from a year earlier to another record as smartphones and its chip division helped drive earnings.

As smartphone margins plateau, Samsung is finding refuge from a cyclical upturn in memory chips. The division’s margins have nearly doubled from a year earlier. The importance of Samsung’s chip unit – composed of memory and logic chips – is being highlighted as it now accounts for roughly one-fifth of its total operating profit.

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