Samsung logs record high profit

Strong sales of Galaxy phones propelled Samsung's quarterly profit to a record high, but its shares dropped today on the prospect its growth would slow in an increasingly crowded smartphone market.

Samsung Electronics said July-September net profit nearly doubled to 6.56 trillion won (£3.7 billion) from 3.44 trillion won a year earlier. Revenue for the third quarter climbed 26% to 52.2 trillion won.
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