Samsung Profit Surges as Cheaper Handsets Team With Chips
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Samsung Electronics Co., building smartwatches and eyeglasses that can take phone calls, posted record third-quarter earnings on surging prices for memory chips and sales of cheaper Galaxy smartphones in emerging markets.
Net income, excluding minority interest, rose 25 percent to 8.05 trillion won ($7.6 billion) in the third quarter, the Suwon, South Korea-based company said in a regulatory filing today. That compares with the 7.94 trillion-won average of 24 analyst estimates compiled by Bloomberg.