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Technology

Samsung mobile phone business surges thanks to Huawei's woes

World's leading smartphone maker plans more foldable handsets, predicts memory chip recovery

SEOUL -- Samsung Electronics' mobile business enjoyed surging profits in the third quarter thanks in part to the U.S. clampdown on Chinese rival Huawei, though the South Korean tech giant's overall performance was weighed down by poor performance in its chip unit.

Samsung, the world's largest smartphone maker, announced Thursday that operating profit from its mobile and network operations rose 31.5% to 2.9 trillion won ($2.5 billion) in the third quarter from a year ago. Quarter-on-quarter, it jumped 87.2%.

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