Samsung Earnings Record Fueled by Chips

Samsung third-quarter profit jumped 28%, to a 3-year high, as rising memory chip prices, chip-making contracts, and screen sales outpaced rising consumer electronics production costs.

The world’s largest maker of memory chips and smartphones said operating profit rose to 15.8 trillion won (about $13.48 billion) in the July-September period, from 12.35 trillion won a year earlier.

This is in line with the company’s estimate this month of 15.8 trillion won.