Samsung makes record profit of $109m a day as chip demand soars

South Korean tech giant Samsung Electronics logged a record profit of 11.2trn won – $10bn (£7.6bn) – in the July to September period, it said on Tuesday, its best for any quarter. The world's biggest memory chip and smartphone maker had its de facto leader jailed in August for bribery and faced a recall of its flagship Galaxy Note 7 device. But its net profits soared 148% on the same period a year ago, it said in a statement, thanks to strong demand for its memory chips and a recovery in smartphone sales with the roll-out of the new generation Galaxy Note 8. The figures come only two weeks after chief executive Kwon Oh-Hyun resigned, saying the South's biggest firm was facing an "unprecedented crisis" and its current profitability was "merely a fruit of decisions and investment made in the past". The firm described Tuesday's numbers as an "overall robust performance".