Hot chips expected to make Samsung's Q3 profit sizzle

Seoul

SAMSUNG Electronics Co Ltd is expected to forecast a record third quarter profit on Friday thanks to the strong market for memory chips, and as mobile earnings bounce back from last year's costly withdrawal of the Note 7.

The failure of the fire-prone Note 7 smartphone is now a distant memory for the South Korean technology giant, which is near its highest ever market valuation after a nearly 50 per cent surge in its share price so far this year.