Samsung reports record $9.7 billion profit, buoyed by a 'memory super cycle'

Visitors test Samsung Electronics Co.'s Galaxy S8 smartphones at a company shop in Seoul

Visitors test Samsung Electronics Co.'s Galaxy S8 smartphones at a company shop in Seoul

Samsung said it expects the July-September profit to decrease slightly compared to the previous quarter due to uncertainties in the display panel unit.

Mobile devices and data are the keys to understanding Samsung's ascent as the new industry leader, even as its de facto chief is jailed, battling corruption charges, and it recovers from a fiasco over Galaxy Note 7 smartphones that had to be axed a year ago because they were prone to catch fire.

By division, the home appliance and air solution unit generated 465.7 billion won operating profit, up 7.4 percent on-year, with the revenue coming in at 5.25 trillion won, up 11.7 percent.

Apple, set to launch its 10th-anniversary iPhone this year, is still projected to notch up larger full-year profits than Samsung.

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SK hynix, a major chipmaker, advanced 2.4 percent to 68,400 won, but Samsung Electronics actually edged down 0.08 percent to end at 2,490,000 won, as investors opted to cash in profits, according to analysts.

"But we also have to keep in mind that a lot of Samsung's momentum is from memory and displays too, so it's not all about the S8, either", he said, according to Bloomberg News.

The Galaxy S8 series of smartphones recorded higher sales than their predecessors, helping the company's mobile business to rebound from the fire-prone Galaxy Note crisis that cost almost £4 billion a year ago.

Vice Chairman Lee Jae-yong is on trial for bribery and embezzlement linked to the corruption scandal that toppled ex-President Park Geun-hye while his father, Chairman Lee Kun-hee, has been hospitalized since 2014. Samsung provides its chips to other companies including Apple.

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The South Korean tech giant will also benefit from the success of rival smartphone makers.

The factory in Pyeongtaek, 70 kilometres (44 miles) south of Seoul, is the world's biggest and has recently started production after the firm spent 15.6 trillion won in two years to build it.

However, Samsung said the outlook for its semiconductor business still looks rosy, as it expects companies to continue adding to their server memory capacity.

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