SEOUL, South Korea — Operating profit at Samsung Electronics hit another record high in the July-September quarter, likely driven by robust sales of its cheaper mid-range smartphones in developing countries.
The maker of Galaxy smartphones said Friday that its third-quarter operating income rose 25 percent over a year earlier to $9.4 billion. The result was slightly better than the market expectation of $9.3 billion, according to FactSet, a financial data provider.
Third-quarter sales increased 13 percent to a record high of $55 billion.
Samsung did not disclose net income or other details of its financial performance. Its full results will be announced later this month.