Samsung Electronics set record highs in its sales, operating profit and net earnings in the third quarter on the continued “super cycle” of memory chips characterized by strong demand and tight supply.

Samsung said in a regulatory filing on Tuesday that its July-September operating profit almost tripled to 14-point-five trillion won, compared with five-point-two trillion won tallied a year earlier. 
 
The figure is also larger than the current record of 14-point-07 trillion won set in the previous quarter. 
 
The sharp growth was mainly led by strong returns from its chip business as the firm's operating profits in the sector came to almost ten trillion won in the third quarter, up from three-point-four trillion won a year ago. 
 
Samsung's third-quarter sales reached 62-point-05 trillion won in the third quarter, up around 30 percent year-on-year. Net profit was eleven-point-19 trillion won. 

Samsung said profits fell in the display sector due to investment in new production lines despite higher sales of its OLED panels. It said stronger sales of smartphones such as the Galaxy Note 8 and the Galaxy J series carried the mobile sector. The household appliance business saw an improvement on robust sales of premium products.