The semiconductor shortage may be hitting many companies hard, including some chip suppliers, but Samsung is riding high on the wave of increased demand and prices. The Korean firm announced its highest ever third quarter revenue and second highest profit, largely because of growth in sales of semiconductors, especially memory chips. And unlike Apple, whose iPhone sales were reduced by shortage of some components, Samsung increasingly sources the most advanced elements inhouse. Samsung recorded a 10% year-on-year increase in Q3 revenue to reach KRW74 trillion ($63bn), while gross margin was up 1.7 percentage points to 42%. Operating profit reached KRW15.82 trillion, a figure topped only once before in the firm’s history, three years ago. As well as chip demand, Samsung…