Retail in Asia

In Trends

Samsung’s Q3 profit up 80pc

Samsung flagged a nearly 80 percent jump in quarterly profit Wednesday, as sales of chips and displays offset stiff competition in smartphones from Apple and cheaper Chinese rivals.

The stellar earnings forecast sent shares in the South Korean company soaring more than 5 percent in mid-morning trade.

The firm’s flagship smartphone business is struggling against fierce competition, sandwiched between top-end rivals like Apple’s iPhone and lower-end devices from fast-growing Chinese outfits like Xiaomi.