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Samsung posts record $7.4B profit on strong Galaxy sales

South Korea’s Samsung Electronics reported on Friday (local time) a record quarterly profit of $7.4 billion, crediting strong sales of its Galaxy line of smartphones and tablets with making up for weak chip demand. The electronics giant said its third-quarter operating profit increased 91 percent to $7.39 billion, in line with guidance offered earlier this month. Revenue for the quarter …

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Huawei caught up in legal mess over cell equipment sales to Iran

Huawei, the embattled Chinese telecommunications equipment maker, has been caught in a convoluted tale over Iranian cellular sales. Earlier this year, Huawei purchased cellular antenna equipment from a U.S.-based company, called Andrew LLC, and then through a partner in Iran, attempted to sell those products to a carrier in the Middle Eastern country, Reuters is reporting today, citing documents it …

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