South Korean company Samsung Electronics announced record quarterly financial results. At the end of the third quarter of 2021, its operating profit increased by about 28%. This is the largest increase in the past three years.
Samsung’s record profit is attributed to rising memory chip prices and rising demand for smartphone displays. Last quarter, about half of the company’s total operating income came from its semiconductor business. Profits from Samsung’s semiconductor division are up about 79% year-over-year, analysts said.
According to preliminary estimates Samsung, its profit in the period from July to September 2021 could be 15.8 trillion won, or about $ 13.3 billion. In addition to displays and semiconductors, the successful launch of the third-generation Galaxy Z Fold and Galaxy Z Flip smartphones has played a role in boosting Samsung’s financial performance. In just a month, the company was able to sell over two million new foldable devices.
By the way, Samsung pays a lot of attention to its chip business. So, she recently announced that next year it will begin work on the implementation of a 3-nanometer technological process in the production of chips for smartphones, and in 2025 it plans to start mastering a 2-nanometer technological process.
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