A 30% increase in smartphone sales has helped Samsung post a net profit of 4.0tr Korean Won (£2.27bn), up 16.95% on 2010.
The manufacturer posted sales of 47.3tr Won (£26.8bn), up 13% year on year. For its full year, Samsung had sales of 165tr Won (£93.7bn), up 7% on 2010. However, operating profit in 2011 was down 15% to 13.73tr Won (£9.22bn).
Samsung singled out the performance of its telecommunications division, which includes its mobile phone department. It had sales of 17.82tr Won (£10.11bn), up 52% on 2010 and largely driven by the sales of its Galaxy S II and Galaxy Note devices. Operating profit hit a record 2.64tr Won (£1.50bn). Across the full year, operating profit for the department was 8.27tr Won (£4.69bn), up 90% year on year. Total sales were 55.53tr Won (£31.52bn), an all-time high for the division and worth almost a third of Samsung Electronics' total revenue for the year.
Looking ahead, Samsung said demand for entry-level smartphones and tablets will increase 'significantly' but said demand for feature phones will stay 'static'.
Samsung senior VP and head of investor relations Robert Yi said: 'Despite intensified competition amid the global economic slowdown, our telecommunications businesses continued to post solid earnings with an enhanced lineup of high-end smartphones, resulting in higher average selling price (ASP). Moreover, improved profitability and earnings growth of our set businesses, including smartphones and flat panel TVs, led to our company’s strong earnings.'