BusinessWorld

Samsung Electronics posted a 17.5 per cent increase in net profit

Seoul, Oct 31 (IEBusiness) South Korean tech giant Samsung Electronics on Wednesday posted a 17.5 per cent increase in its net profit to 13.1 trillion won (11.5 billion US dollar) in the third-quarter of the fiscal as compared to 11.1 trillion won a year ago, Qatar News Agency reported.

“Sales increased 5.5 per cent in the third quarter. Operating profit advanced 20.9 per cent hitting a new record. The operating-profit-to-sales ratio reached 26.8 per cent to set another record”, the company said in its statement.

The consumer electronics division reported an operating profit of 560 billion won in the same three months, up 14 per cent on-year, the statement added.

The chip business of the device solutions division saw its operating profit reach 13.65 trillion won in the July-September period, up 37 per cent from 9.96 trillion won posted in the same period last year, setting a new record.

(Source UNI News)

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