Samsung sees record third quarter profit on chip demand

Samsung Electronics expects to post record operating profit in the third quarter, helped by strong demand for its memory chips. The South Korean electronics giant is forecasting operating profits of around 17.5 trillion won, up 20.4% from a year ago. Samsung overtook Intel to become the biggest chipmaker last year. The South Korean firm has seen earnings surge in recent years largely due to demand for memory chips in mobile devices, but falling prices for some electronic components could hit further earnings growth. Samsung is due to publish a detailed third quarter earnings later this month.

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