Samsung Surges Most Since 2009 as Profit Beats Estimates
- Weaker Korean won boosting chip sales settled in U.S. dollars
- Chips have overtaken mobiles as biggest source of profit
An attendee tries a video game on a Samsung Electronics Co. Galaxy Gear Virtual-Reality headset at the Tokyo Game Show 2015 at Makuhari Messe in Chiba, Japan.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Investors have punished Samsung Electronics Co. this year for its struggles against Apple Inc. and Chinese makers. They just gave it a $13 billion vote of confidence.
Shares surged the most in more than six years as a revamped smartphone lineup and a renewed focus on components gains traction. Earnings jumped 80 percent in the September quarter, beating estimates and snapping a streak of seven consecutive declines.