Wednesday, November 1, 2017

Samsung Posts Record 3Q Profit Amid Strong Demand For Its Memory Chips

It looks as though Samsung is still making a killing off the booming memory market. Apparently exploding phones and huge scandals didn't have much impact on the bottom line.

Samsung Electronics logged a record profit of $10.0 billion for the third quarter and announced a sweeping reshuffle of its top management on Tuesday, seeking to maintain its lead while its heir is in prison. The world's biggest memory chip and smartphone maker has faced multiple challenges since last year, including a humiliating recall of its flagship Galaxy Note 7 handsets and a corruption scandal that engulfed its de facto leader.