Samsung chairman stepped down, but profit up

Posted by Michelle Meyers

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Just days after Samsung Chairman Lee Kun-Hee stepped down following his indictment on tax evasion charges, the world's top maker of memory chips on Friday posted a 37 percent rise in quarterly profit, its biggest gain in more than two years, according to news accounts and a company report.

The rise, which beat expectations, was attributed to strong sales and margins in flat screens and mobile phones, which helped counter weaknesses in chips, Reuters said.

The South Korean company on Friday posted a net profit of 2.19 trillion won, or $2.2 billion. For more details on the quarter, see Samsung's detailed slides (PDF).

Michelle Meyers is an associate editor who tracks online happenings in media, entertainment, and politics. E-mail Michelle.

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