Smartphones Are Killing It! Samsung Q4 Profits Surge 76%

| January 25, 2013 | Reply

samsung omnia 2Smartphones Are Killing It for Samsung at the moment. They’ve seen their quarterly profits soar by 76%, buoyed by the popularity of its Galaxy smartphones, which have sold more of the iPhone for a fourth straight quarter. These are amazing results!

Net profit for the final quarter of 2012 was 7.04 trn South Korean won (£4.1bn), up from 4.01 trn from the previous year.

Sales for the final quarter of 2012 rose 19% over the previous year, and operating income jumped 80%.

Take a look at the latest Samsung Galaxy S3 Review

Samsung, which overtook Apple to become top smartphone maker last year, said increased sales of the phones were the key source of its profit growth.

Its operating profit from the division that creates and sells smartphones and tablets more than doubled to 5.44trn won in Q4, up from 2.56trn a year earlier.

Most analysts believe Samsung shipped more than 60 million smartphones, including the Galaxy S III and Galaxy Note II, throughout the 3 months ending in December, which would put this year’s smartphone sales at more than two hundred million.

On Wednesday, Apple said it sold 47.eight million iPhones within the quarter.

Hong Kong-based firm Counterpoint Research said Samsung took thirty threep.c market share in the fourth quarter, in comparison with Apple’s 21%.

But Samsung said that it currently expects earnings to decline throughout the present quarter, as a result of of seasonally low demand for consumer electronics, post-Christmas.

The company said the growing strength of the South Korean won might damage profits, with margins reduced as a result.

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Category: Article, Mobiles, News, Samsung, Smartphone

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