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Samsung Q3 profit trebles on memory chips, LCD
2009-10-29
SEOUL (Reuters) - Samsung Electronics (005930.KS), the world's top maker of memory chips and LCD screens, reported on Friday record quarterly net profit on a resurgent memory sector and brisk sales of flat screens and mobile phones. Samsung's July-September net profit rose to 3.72 trillion won ($3.14 billion) from 1.22 trillion won a year ago, beating an average forecast for 3.34 trillion won from Thomson Reuters I/B/E/S. Consolidated quarterly operating profit was 4.23 trillion won, better than a forecast for 3.92 trillion won. The results underscore a V-shape recovery by Samsung, which suffered its first quarterly loss in the fourth quarter last year during the global recession. But the South Korean technology giant may be hit by a recovery in the won and rising competition. (Reporting by Marie-France Han and Rhee So-eui; Editing by Jonathan Hopfner and Anshuman Daga)
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