BUSINESS NEWS - Samsung Electronics Co Ltd said on Tuesday it will pay dividends of about 29 trillion won in the 2018-2020 period as it reported record operating profit for the three months through September, lifted by its largest-ever memory chip earnings.
The world’s biggest maker of memory chips, smartphones and television sets said the memory chip “supercycle” of tight supply and strong demand was set to continue as servers and mobile devices require ever greater processing capacity.
“For 2018, the company expects earnings to grow primarily from the component businesses, as conditions in the memory market are likely to remain favorable and the company expects increased sales of flexible OLED panels,” the South Korean tech giant said in a statement.
Samsung is on track for record full-year profit, with analysts forecasting even better fourth-quarter on strong memory chip prices and organic light-emitting diode screen sales for Apple Inc.’s iPhone X.
