? ? South Korea'sSamsung Electronics said yesterday its net profit spiked 25.6 per cent to another record in the third quarter, driven by soaring revenue from memory chip sales. The world's largest technology firm by revenue said JulySeptember net profit rose to 8.24 trillion won ($7.8 billion), from 6.56bn won a year ago. The previous record was 7.77trn won set in the second quarter. "Despite currency depreciation in emerging markets, increased price competition and global market uncertainties, we were able to reach record earnings driven by solid earnings in our core businesses including memory chips and smartphones," said Robert Yi, Senior Vice President and Head of Investor Relations. "Although we expect demand to increase next quarter due to peak seasonality, lingering macro-economic issues and intensifying market competition will remain in the fourth quarter," Yi said. Operating profit soared 26pc on-year to a record 10.2bn won in the third quarter, in line with the estimates Samsung provided earlier this month. Stagnant growth in sales of the company's flagship Galaxy S smartphones was offset by strong sales growth in the cheaper end of the smartphone market. The semiconductor business saw the biggest gains, with a 12pc spike in revenue over the previous quarter to 9.74trn won. The bulk of that came from the memory chip business which attracted revenue of 6.37trn won. "Looking ahead, mobile DRAM shipments will stay strong with the release of various lowto high-end smartphones as the holiday season nears," the company said. Third quarter operating profit in the semiconductor business more than doubled from a year ago to 2.06trn won. Samsung's mobile unit still accounted for two-thirds of the company's operating profit in the third quarter, but has been slowing down as the market for premium smartphones becomes increasingly crowded and prices drop. Samsung's consumer electronics unit the company's second largest in terms of sales continued to struggle in squeezing out profits. Margins were at 2.9pc as new demand for TVs remained weak. During a conference call with analysts, Yi said Samsung expected an additional divided payment of 1.5trn won, resulting from the sale of its subsidiary Samsung Display's 43 pc stake in an LCD glass venture with US firm Corning Inc. ? ?