Samsung Electronics Co. announced on Friday that it had generated a record net profit of 8.24 trillion won (USD 7.76 billion) in the third quarter, thanks to strong smartphone sales and higher microchip prices.

The figure represents a 26 per cent 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 per cent year-on-year to 59.08 trillion won, while operating profit climbed 26 per cent 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.”

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