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(LEAD) Samsung logs record quarterly profit on higher prices
By Lee Youkyung
SEOUL, Oct. 30 (Yonhap) -- Samsung Electronics Co., the world's leading memory chipmaker, said Friday that its third-quarter earnings more than tripled from a year ago on a rise in prices of key products.
Net profit stood at 3.72 trillion won (US$3.16 billion) in the July-September period, compared with 1.22 trillion won a year ago, the company said in a regulatory filing.
Sales jumped 29.1 percent on-year to 24.86 trillion won, and operating profits doubled from a year ago to 2.77 trillion won, it said.
Shares of Samsung Electronics traded at 728,000 won on the Seoul bourse as of 10:15 a.m., up 1.39 percent from Thursday's close.
Consolidated third-quarter operating profits, which include Samsung's foreign subsidiaries, came in at a quarterly record of 4.23 trillion won. Sales reached 35.87 trillion won.
Samsung ascribed the robust earnings to a rise in chip and display panel prices.
For 2010, Samsung said it is mulling spending 5.5 trillion won for memory chips and 3 trillion won for liquid crystal displays.
ylee@yna.co.kr
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