Samsung Electronics posts US$7.4b profit; chip sales weak

South Korean technology powerhouse Samsung Electronics Co posted a fourth straight record quarterly profit - of US$7.4 billion - with strong sales of its Galaxy range of phones masking sharply lower memory chip sales.

The record run, though, is likely to end in December, with profit growth slowing even more next year as TV markets stagnate and growth in the high-end smartphone market eases from the recent breakneck speed. Profit is expected to grow 16 percent next year down from a forecast 73 percent this year, according to Thomson Reuters I/B/E/S.

via Business feed http://www.scmp.com/business/companies/article/1070184/samsung-electronics-posts-us74b-profit-chip-sales-weak