Apr 26, 2018

Samsung Electronics posts fourth quarter of record profits

Samsung Electronics posted record profits for a fourth quarter in a row, thanks to strong demand for its memory chips and new Galaxy S9 smartphone. The South Korean technology giant saw net profits of 11.7tn won between January to March, up 52% from a year earlier. The world's largest chip maker remains upbeat about demand for its memory chips - the main driver of its business which made up 73% of its first quarter operating profits. Greg Roh from HMC Investment and Securities said he expected the memory chip boom would help the firm to achieve the same level of profits in the next quarter. The Samsung Group's heir apparent - who was also vice chairman of the electronics division - was jailed for bribery and corruption last year.

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