Samsung profit trebles on memory chips

Samsung profit trebles on memory chips
SEOUL (Reuters) - Samsung Electronics (005930.KS), the world's top maker of memory chips and LCD screens, reported on Friday record quarterly net profit on a resurgent memory sector and brisk sales of flat screens and mobile phones.
Samsung's July-September net profit rose to 3.72 trillion won (1.89 billion pounds) from 1.22 trillion won a year ago, beating an average forecast for 3.34 trillion won from Thomson Reuters I/B/E/S.
Consolidated quarterly operating profit was 4.23 trillion won, better than a forecast for 3.92 trillion won.
The results underscore a V-shape recovery by Samsung, which suffered its first quarterly loss in the fourth quarter last year during the global recession.
But the South Korean technology giant may be hit by a recovery in the won and rising competition.
POSTED BY:-
SHILPI KUMARI
PGDM-3rd SEM