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Samsung posts record third quarter profit

Staff Writer | October 31, 2017
Samsung Electronics said it will pay dividends of about 29 trillion won in the 2018-2020 period.
Samsung Electronics
Samsung   The memory chip "supercycle"
Samsung reported record operating profit for the three months through September, lifted by its largest-ever memory chip earnings.

The world's biggest maker of memory chips, smartphones and television sets said the memory chip "supercycle" of tight supply and strong demand was set to continue as servers and mobile devices require ever greater processing capacity.

"For 2018, the company expects earnings to grow primarily from the component businesses, as conditions in the memory market are likely to remain favorable and the company expects increased sales of flexible OLED panels," the South Korean tech giant said in a statement.

Operating profit nearly tripled in the third quarter from the same period a year earlier, to 14.5 trillion won ($12.91 billion), Samsung said in a regulatory filing, matching its earlier estimate.

Revenue jumped 29.8 percent to 62 trillion won, also in line with its earlier estimate.