Rising chip prices fuel Samsung’s best quarterly profit in 3 years

 Rising chip prices fuel Samsung’s best quarterly profit in 3 years
  • Profit highest since 2018 but slightly below estimates
  • Marketing costs may have offset foldable sales-analysts
  • Falling memory chip prices to weigh on Q4-analysts

SEOUL, Oct 8 (Reuters) – Samsung Electronics Co Ltd (005930.KS) on Friday flagged a 28% jump in its third-quarter operating profit to the highest in three years, driven by rising memory chip prices and display sales for new flagship smartphone launches.

The preliminary result was up 26% from the second quarter, although just below forecasts, while the market reaction was further muted as analysts pencilled in a flat or slightly lower result this quarter on an expected fall in memory chip prices.

The world’s largest memory chip and smartphone maker estimated its July-September profit at 15.8 trillion won ($13.3 billion), below a Refinitiv SmartEstimate of 16.1 trillion won. It is the highest quarterly profit since the third quarter of 2018.

“The mobile business’ operating margin…

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