Samsung Posts Record Quarterly Revenue From Chip Boom
SEOUL— Samsung Electronics Co. reported record quarterly revenue and saw net profit grow by 31% on the back of booming demand for memory chips, though some growth may soon slow as the global component shortage stalls the assembly of various tech products.
The Suwon, South Korea, company posted a third-quarter net profit of 12.29 trillion won, or the equivalent of $10.5 billion, versus 9.36 trillion won a year earlier.
