March 21, 2023

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Samsung's profits are at a 3-year high

Samsung’s profits are at a 3-year high

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South Korean company Samsung Electronics’ profits hit a three-year high of 28 percent in the third quarter.

The company, the world’s largest maker of memory chips and smartphones, posted operating profits of $ 15.8 trillion ($ 13.48 billion) in July-September, up from $ 12.35 trillion a year ago.

According to Reuters, profits increased as a result of increased costs for the production of memory chips, chip-manufacturing contracts, screen sales and consumer electronics.

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