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Samsung reports 26% jump in Q3 income

Samsung Electronics has reported a 26% increase in quarterly operating profit, powered by a strong recovery in its memory chip business as smartphone sales growth eases sharply, Reuters has reported. The smartphone leader, which posted a record profit in six of the past seven quarters, said its July-September operating profit rose to 10.2 trillion won, in line with its estimate. The mobile division, Samsung’s biggest earnings generator, reported a record 6.7 trillion won profit as a greater variety of cheaper Galaxy smartphones boosted shipment volumes and helped counter weakening growth in the lucrative high-end segment.