The South Korean company said Friday its July-September net income rose 25 percent over a year earlier to
It's the seventh quarter in a row that Samsung renewed record-high earnings. While stellar performance in previous quarters was fueled by Samsung's expansion in high-end smartphone market, the third-quarter gain was led by a recovery in Samsung's memory chip business and growth in cheap smartphone sales.
Third-quarter profit from its semiconductor business doubled over a year earlier to
Samsung's mobile business posted a record-high profit, contributing to nearly 70 percent of Samsung's overall operating profit.
However, growth in premium smartphones, the Galaxy S4 and the Galaxy Note 3, came to a halt during the third quarter, staying in the same level as the previous quarter.
It was Samsung's cheap smartphones that drove mid-teen percent range growth in shipments.
Samsung forecast that growth in high-end smartphone sales to remain low at less than 5 percent during the final three months of this year, even though the fourth-quarter is the peak season for the consumer electronics market.
The company said it expected more than a 20 percent growth in sales of tablet devices, hoping to narrow its gap with Apple, which announced new iPad lineups earlier this week.
Sales and operating profit reached all-time high levels. Sales rose 13 percent to
The maker of Galaxy smartphones is the largest supplier of smartphone, memory chips and televisions.
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