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Samsung looks to 5G networks to reduce its over-reliance on chips

Samsung has announced its latest quarterly figures, which once again were heavily reliant on its semiconductor business. But, amid intensifying pressures on the handset unit, the Korean giant was keen to talk up its growth potential in network infrastructure. Total revenues for the quarter were $57bn, up 5.5% year-on-year, while operating profit was about $15.5bn, up 20.9%. Group net profit was KRW13 trillion, up 20% year-on-year. Samsung’s statement indicated the reliance on chips and displays. It said: “In the third quarter, operating profit reached a new quarterly high for the company driven mainly by the continued strength of the memory business. Total revenue increased year-on-year and quarter-on-quarter on the back of strong sales of memory products and OLED panels.” In…

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