Samsung's 3Q earnings gains 28 percent thanks to sales of mobile phone components
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Samsung Electronics says its July-September net profit rose 28 percent over a year earlier as sales of mobile components masked a weak smartphone revival.
The South Korean company reported Thursday a third-quarter net income of 5.3 trillion won ($4.6 billion). That was lower than the market forecast of 5.6 trillion won, according to financial data provider FactSet.
It was Samsung's first earnings gain in more than a year, but the weak-than-expected recovery shows its continued struggle to catch up to Apple in China and elsewhere.
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Profit from semiconductor products and display panels improved but its mobile phone profit slid from the previous quarter after price cuts on some Galaxy smartphones.
Sales gained 9 percent to 51.7 trillion won while operating profit jumped 82 percent to 7.4 trillion won.