Samsung reports robust profit based on chip strength

SEOUL, South Korea (AP) — Samsung Electronics Co. says its operating profit for the last quarter rose by more than 53% from the same period last year as it continued to thrive during the pandemic while relying on its dual strength in parts and finished products.  Samsung’s operating profit of $11.6 billion for the October-December period was its highest for a fourth quarter since 2017. The company attributed the growth to robust demand for its computer memory chips and chip contract manufacturing. Samsung’s $63.7 billion revenue for the period was a new quarterly record, which it said was driven mainly by increased sales of finished products, including smartphones, TVs and home appliances.