Samsung Electronics and Hynix Semiconductor, the world’s largest memory chipmakers, on Friday released strong second-quarter results which would fuel hopes for a recovery in the battered industry, and reinforce the view that the South Korean economy is emerging from the financial crisis.

Samsung saw a 5.2 per cent rise in net profit to Won2,254bn ($1.8bn) from Won2,142bn a year ago on higher chip prices and brisk sales of mobile phones and flat screen televisions. Sales jumped 16 per cent to Won21,020bn, confirming its earlier guidance.