Samsung Electronics has announced that net profits for Q3 have jumped by nearly 400%. As well as being one of the leading chip makers, Samsung is the world’s third largest mobile handset manufacturer; it has around 10% of the world market.
The South Korean company made a net profit of $1390 million in Q3, compared to $340 million for the same period last year.
The strong performance is mainly due to the company’s chip business. Samsung has focused on the top end of the market, which has shielded the company from the market slump. Strong designs have also been behind the success of its mobile phone division.