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Samsung posts 28pc jump in profits amid record sales

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South Korean tech big Samsung Electronics posted a 28pc soar in working revenue on Thursday regardless of global supply chain challenges brought on by the pandemic.

The world’s high chipmaker noticed its working revenue attain 15.8 trillion gained (£9.8 billion) for the July-September interval, it stated in a regulatory submitting.

Its gross sales rose 10pc to a document £45.9 billion on the again of sturdy efficiency from its reminiscence chip division due to sustained international demand.

“Beneficial market situations continued within the reminiscence market” leading to “strong gross sales”, the corporate stated.

Working earnings generated from its semiconductor enterprise accounted for over 60pc of the entire, illustrating the key position the division performs to the sprawling group.

Whereas the coronavirus pandemic has wreaked havoc on the world financial system, it has helped many tech firms growth.

Pandemic-driven working from residence has boosted demand for gadgets powered by Samsung’s chips, in addition to residence home equipment corresponding to televisions and washing machines.

Shopper demand for high-end products such as foldable phones can also be anticipated to additional enhance earnings within the coming months.

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