Samsung Electronics reported third-quarter revenues of $ 59 billion in its third quarter, mainly fuelled by a 50 percent rise in smartphone sales and profits from microchips surging 82 percent.
The Korean tech giant posted a third-quarter net profit of $8.3 billion, a 49 percent increase from the same period last year.
Samsung also enjoyed strong sales growth of its premium TVs and appliances from July to September.
Samsung likely ate into Huawei's market share for mobile phones and chips as US restrictions hit the Chinese telecommunications giant.
In August, the US department of commerce said it would impose sanctions on any foreign company that sold chips to Huawei without first obtaining a license.
However, Samsung expects declining profits in the fourth quarter due to weaker chip demand from server customers and more intense competition in mobile phones and consumer electronics.
The death of chairman Lee Kun-hee could force a shake-up in Samsung as his heirs might sell assets or be forced into dividend payments to pay a huge inheritance tax.


Moody’s Affirms NVIDIA Aa1 Rating as AI Data Center Guarantees Reach $105 Billion
REPAY Stock Rises After Visa Platform Connect Collaboration
AstraZeneca Halts Phase III Volrustomig Lung Cancer Trial After Efficacy Setback
Anthropic Eyes $10B-Plus Credit Line Ahead of Potential IPO
Shein Targets $26B-$27B Valuation for Hong Kong IPO
Unitree Robotics Shares Soar Over 600% in Shanghai Market Debut
Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks
Toyota, Honda Shares Rise on Possible U.S.-Canada Auto Tariff Cut
CK Hutchison Seeks $1.5 Billion From Panama Over Canal Ports
BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside
Nordson Stock Rises as Q3 Earnings Beat Estimates, Outlook Raised
Google to Move All Pixel Production Out of China by 2027
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars
Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push
Samsung Eyes $72 Billion Shareholder Return Plan as AI Chip Boom Fuels Profits
SK Hynix Shares Surge on Record $28.6 Billion Buyback
Baidu Shares Sink to One-Year Low as Ad Weakness Overshadows AI Growth 



