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| Samsung CEO, J K Shin |
South Korean giant Samsung Electronics has announced a $9.56 billion profit for sales between July and September this year due to strong smartphone sales and a recovery in its memory chip business according to BBC News. This is higher than its estimate of $9.4 billion and its previous quarter profit of $8.5 billion.
It said that profits at its memory chip business rose to its highest in three years and profit was also assisted by the sales of its low-cost smartphone models in emerging markets such China and South America.
In another related report, Samsung CEO J.K. Shin reportedly spoke to Korean press and revealed that the Galaxy S4 had moved more than 40 million units in its first 6 months on the market. The company moved more than 10 million units in its first month.
