Samsung sees memory recovery next year after profit beat
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Samsung Electronics Co. beat profit expectations in the third quarter and predicted a recovery in the semiconductor market next year. The world's largest maker of memory chips and smartphones said on Tuesday that net income fell 40% to 5.5 trillion won ($4.1 billion) in the September quarter, compared with analyst estimates of 2.52 trillion won, according to data compiled by Bloomberg. That's an improvement from the 86% decline a quarter earlier. Samsung's pivotal chip division posted a 3.75 trillion won operating loss, compared with a 4.4 trillion won loss in the previous quarter. Three analysts polled by Bloomberg had estimated a loss of between 3.6 trillion won and 3.8 trillion won. The company's mobile panel business also had a “significant increase” in earnings with the fla...
