$SSNLF 005930 KS Samsung's chip division made ₩106.5T of operating profit in 3Q26. That's more than all of $SKHY earned in the same quarter (₩83.3T), and it's 99% of Samsung's group profit. 3Q26 final (K-IFRS): Revenue ₩195.3T, +14% QoQ, +127% YoY (prelim ₩195.0T) Operating profit ₩107.4T, +20% QoQ, margin 55.0% (2Q 52.2%) DS (chips) ₩106.5T on ₩147.1T of sales, a 72% margin (2Q 70%) Memory sales ₩140.7T, +16% QoQ Phones, TVs and appliances -₩0.8T, same as 2Q Net profit ₩75.1T, EPS ₩11,462 Net cash ₩197.6T The number that moved most is capex. Samsung spent ₩26.9T on property and equipment in the quarter, almost double 2Q's ₩14.1T and 2.5 times a year ago. Revenue growth slowed from 28% to 14% QoQ while spending stepped up. On 2027, the company expects AI demand to tighten memory supply further than this year, and says it'll build its sales base on long-term contracts. HBM4 sales "significantly scaled up" in 3Q, with prices up across all applications. Foundry's first Taylor fab starts operations, and Samsung says its 2nm HPC wins now include major hyperscalers. Shareholders get ₩30T in 3Q dividends, ₩4,601 a share. Of the ₩90–110T planned for 2026, ₩35T is done or committed. The other ₩55–75T will include a large buyback and cancellation, with the plan set at the board meeting in late January. Below operating profit, the finance line swung to a ₩9.5T loss from a ₩4.7T gain in 2Q. The materials don't say why. For the call (10am Seoul): C1 What drove the ₩9.5T finance loss C2 How much of 2027 HBM4 is under long-term contract, and on what pricing terms C3 Where the ₩26.9T of capex went, and what 2027 capex looks like C4 Whether memory costs keep phones and TVs in the red into 4Q