SEOUL-- The combined sales of global chipmakers are presumed to have surpassed a record US$100 billion in the third quarter of 2017 fueled by escalating industrywide demand, data showed Thursday.

According to the data compiled by the U.S.-based Semiconductor Industry Association, total revenue of global chipmakers is estimated at $107.9 billion in the July-September period, up 10.2 percent from the previous quarter.

Industry watchers said the chip industry is expected to enjoy robust returns in the fourth quarter as well, led mostly by the memory chip sector.

"Global semiconductor sales increased sharply on-year in September, and year-to-date sales through September are more than 20 percent higher than at the same point last year," SIA CEO John Neuffer said in the report.

"The industry posted its highest-ever quarterly sales in the third quarter, and the global market is poised to reach its highest-ever annual revenue in 2017," Neuffer added.

Last month, Samsung Electronics Co. said its chip business raked in a record operating profit of 9.96 trillion won (US$8.92 billion) over the third quarter helped by rising prices amid limited supply in the market.

No. 2 chipmaker SK hynix Inc. also said its operating profit reached a fresh high of 3.7 trillion won in the July-September period.

Source: Yonhap News Agency