The South Korean company, which is the world's largest maker of smartphones, memory chips and televisions, said Friday its July-September net profit rose 25 percent over a year earlier to
It was the seventh quarter in a row that Samsung posted record earnings. Growth was driven by semiconductors and sales of cheaper smartphones in contrast to previous quarters that relied on premium smartphones.
Third-quarter profit from its semiconductor business doubled over a year earlier to
Samsung's mobile business posted a record profit, contributing nearly 70 percent of the company's total operating profit.
However, growth in sales of premium smartphones, the Galaxy S4 and the Galaxy Note 3, came to a halt during the third quarter, staying at the same level as the previous quarter.
In the premium market, Samsung is feeling the heat from the launch of
It was Samsung's cheap smartphones that drove mid-teens percentage growth in shipments.
"Samsung's result reflects the current situation in the global smartphone market. The premium smartphone market is not growing quickly," said
Samsung's home rival
Samsung forecast that growth in overall smartphone sales would remain low at less than 5 percent during the final three months of this year, as competition heats up during the peak season for consumer electronics.
Samsung, meanwhile, is trying to narrow
The company's sales and operating profit were also at record levels. Sales rose 13 percent to
Analysts expect that Samsung will post another record profit for the final three months of this year as its chip business is likely to enjoy higher demand from handset makers releasing new mobile gadgets while supplies will remain tight.
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