Samsung sees record quarterly profit on chip demand

Samsung Electronics has reported a record quarterly profit thanks to surging global demand for memory chips. The South Korean tech giant reported an operating profit of 14 trillion won ($12bn; £9.3bn) in the three months to June, up 72% on a year earlier.

Sales climbed 18% to 60 trillion won, buoyed by strong sales of smartphones including the new flagship Galaxy S8. Analysts say the results indicate Samsung has recovered from the disastrous Galaxy Note 7 recall.

That handset was axed after a battery fault led to some devices catching fire. Also on Friday, Samsung launched a new phone in South Korea using parts from the Note 7 to "minimise the environmental impact" of its high-profile flop.


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