Samsung's Profits Soar in Q3 to Highest Level in 3 Years

Samsung Electronics reported a 28% increase in profits in the third quarter of the year, reaching the highest level in three years. This increase was driven by a rise in the prices of memory chips, contract chip manufacturing, and display sales, which outweighed the rising costs of producing consumer electronics. The world's largest memory chip and smartphone manufacturer announced that its operating profit rose to 15.8 trillion won ($13.48 billion) for the period from July to September, compared to 12.35 trillion won for the same period last year, aligning with the company's estimates this month of recording 15.8 trillion won.