Samsung Electronics said in a preliminary report Friday that its third-quarter operating profit jumped over 20 percent on-year to hit a record high, likely due to strong chip sales. 

The South Korean tech giant said in a regulatory filing that its operating profit came to 17-point-five trillion won in the July-September period, up 17-point-seven percent from the previous quarter and 20-point-four percent from a year earlier.

The figure surpassed the previous record of 15-point-six trillion won set in the first quarter.

Sales increased four-point-eight percent on-year to reach 65 trillion won over the cited period. 

The record earning was apparently attributable to its chip business, however, industry watchers say that Samsung is likely to face a slight decrease in its operating profit for the fourth quarter in line with changes in global prices of memory chips.