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Memory chips to sizzle Samsung's Q3 profit after costly Note 7 withdrawal

Samsung will only provide estimates for July-Sept revenue and operating profit on Friday, will disclose detailed results in late Oct

Reuters  |  Seoul 

Samsung Electronics is expected to forecast a record third-quarter profit on Friday thanks to the strong market for memory chips, and as mobile earnings bounce back from last year's costly withdrawal of the Note 7. The failure of the fire-prone Note 7 smartphone is now a distant memory for the South Korean technology giant, which is near its highest ever market valuation after a nearly 50 per cent surge in its share price so far this year. The world's biggest maker of memory chips and mobile phones has been the chief beneficiary of the sizzling semiconductor market, as ...

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First Published: Wed, October 11 2017. 09:26 IST