Samsung Posts Record Profit in Q3,2013

(MENAFN- Qatar News Agency) Samsung Electronics Co announced Friday that it had generated a record net profit of 8.24 trillion won (US 7.76 billion dollars) in the third quarter, thanks to strong smartphone sales and higher microchip prices. The figure represents a 26 % rise in profits compared to the same period a year earlier for the world's largest maker of mobile phones, televisions and memory chips. Total revenue between July and September rose by 13.2 % year-on-year to 59.08 trillion won, while operating profit climbed 26 % to 10.16 trillion won. With an eye on Christmas sales, Samsung said in its earnings statement that it expected fourth-quarter growth in the smartphone and tablet markets "to continue due to seasonality," while competition would "intensify further."