Samsung chairman stepped down, but profit up

Days after Chairman Lee Kun-Hee's resigns shamed by tax evasion charges, the world's top maker of memory chips on Friday posts a 37 percent rise in quarterly profit.

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).

About the author

Michelle Meyers, associate editor, has been writing and editing CNET News stories since 2005. But she's still working to shed some of her old newspaper ways, first honed when copy was actually cut and pasted. When she's not fixing typos and tightening sentences, she's working with reporters on story ideas, tracking media happenings, or freshening up CNET News' home page.

 

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