Samsung Boosted By U.S. “Anti-Huawei” Stance

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Samsung Electronics has reported record revenues of 59 billion dollars in its third quarter.

The strong revenues were fuelled by a 50% jump in smart phone sales, while profits from microchips rocketed 82%.

The Korean tech giant posted a third quarter net profit of $8.3bn, a 49% increase over the same period last year.

Samsung’s mobile and chip businesses were likely boosted by US sanctions against its Chinese rival Huawei.