Samsung is basically printing money

With net profits of $7.6 billion last quarter, Samsung is moving forward and still looking strong before the lucrative Christmas quarter.

Samsung Electronics has reported a 26% jump in profit in the third quarter driven by strong smartphone sales and a recovery in its memory chip business.

It made a net profit of 8.24 trillion won ($7.6bn; £4.7bn) in the July-to-September quarter, up from 6.56tn won during the same period a year earlier.

Operating profit rose to a record 10.2 trillion won during the quarter.

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Comments
  • stefnagel

    Actually Samsung could be printing money; it’s in bed with the South Korean government to the extent that the president has pardoned the CEO twice.