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Samsung doubles net profit

Samsung Electronics has posted second quarter net profit up over 100 percent to 1.92 trillion won ($1.63 billion) from 876 billion won a year earlier. <br>

Samsung Electronics has posted second quarter net profit up over 100 percent to 1.92 trillion won ($1.63 billion) from 876 billion won a year earlier.

According to the world’s largest chip maker, surging sales of memory chips, mobile phones and televisions were responsible for the impressive financial fillip.

The Seoul, Korea-based company stated revenue for the quarter rose to 9.94 trillion won from 8.02 trillion won in the same period last year period.

Sales for the telecommunications division, including mobile phones, surged 20 percent on the year to 2.77 trillion won. Sales at the digital-media division, which embraces DVDs, flat-screen televisions and set-top boxes, rose 11 percent to 2.44 trillion won.

Samsung revealed it has chosen to divest its interests in four unnecessary assets: a 121.7 billion won stake in Hanaro Telecom; a 76.9 billion won interest in Dacom Corp.; 8.5 million KorAm Bank shares valued at 95.6 billion won; and 800,000 shares of Serome Technology.

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