Oct 31, 2017
Samsung Electronics posts record quarterly profit
Samsung Electronics has posted its best quarterly profit ever, driven by higher memory chip prices and a recovery in smartphone sales. His resignation came days after Samsung group's heir apparent Lee Jae-yong began an appeal against his conviction and five year jail sentence for bribery and corruption, stemming from payments to the secret confidante of South Korea's ousted president Park Geun-Hye. Samsung Electronics is regarded as the jewel in the crown of the Samsung conglomerate, which is made up of 60 interlinked companies. Samsung Electronics described its latest quarterly result as a "Robust performance" overall. The world's biggest memory chip and smartphone maker expects strong demand for its products to continue, putting it on track for a record annual profit.
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