Business

Samsung's record profit may continue

SEOUL: Samsung Electronics said a memory chip boom that propelled it to record profit in the second quarter is likely to continue in the third, just as revenue is widely expected to benefit from sales of OLED screens to Apple Inc.

The world's biggest maker of memory chips, smartphones and TVs is set to smash its annual profit record after better-than-forecast performance in its mobile business lifted April-June profit slightly above its early-July guidance, analysts said. "Looking ahead to the third quarter, the company expects favourable semiconductor conditions to continue," Samsung said in a statement yesterday. - REUTERS

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