Chip giant Samsung Electronics Friday nearly tripled second-quarter profits on a 52% sales rise, registering further gains in several crucial business segments.

The Seoul-based company cited strong gains in its fast-growing semiconductor, liquid crystal display and wireless units. Samsung's progress in chips and handsets is particularly germane to U.S. investors on the heels of this week's setbacks at industry giants Intel ( INTC) and Nokia ( NOK).

For its second quarter ended June 30, Samsung said net income surged 177% from a year earlier to 3.13 trillion Korean won ($2.7 billion). Sales jumped to 14.98 trillion won as the chip business posted its highest-ever quarterly profit. Second-quarter LCD sales rose 4%, and the company paid out a special 5,000-won interim dividend.

The telecom business posted a "spectacular quarter," Samsung said, with sales of 22.7 million units in the second quarter. The company said the division's market share is expected to rise to 14%-15% from the 13% in the first quarter. Samsung said that while margins have been pressured by the Nokia-inspired price war in the sector, operating margins "remained at a healthy 16%."

The company boosted its full-year handset sales forecast to 86 million units from 65 million, citing the launch of new models in the third quarter. Samsung also boosted its capital spending forecast.

The news comes as big players in the handset business grapple for market share amid the design pratfalls of Nokia. Along with Samsung and Korean peer LG, the big gainers in recent quarters have included Motorola ( MOT) and the Swedish-Japanese venture Sony Ericsson.

Samsung shares rose 3.6% in Seoul trading.

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