Galaxy range helps Samsung smash profit record

Galaxy range helps Samsung smash profit record

The success of Samsung's Galaxy range of phones has led the manufacturer to post a record net profit of 6.56tr Won (£3.7bn).

Samsung said its mobile communications business had sales of 26.25tr Won (£14.8bn) for the three months to 30 September, accounting for more than half Samsung's total sales.

The manufacturer's IT and Mobile Communications division, which is dominated by the performance of its phones, saw operating profits leap 132% to 5.63tr Won (£3.18bn) and overall revenue of 29.92tr (£16.9bn) Won.

Samsung said it was sales of its Galaxy S III smartphone that was the key driver of its increase in profits. No sales figures were disclosed but the device started strongly, shifting 20 million handsets in less than three months on sale. Samsung said it had worked on improving its product mix to raise average selling price. It also described orders for its Galaxy Tab devices as 'strong'.

The manufacturer said the 'premium' Galaxy S III and Galaxy Note II would be at the centre of its fourth quarter plans. It highlighted emerging markets as an area of potential high growth.

Robert Yi, senior VP and head of investor relations, said: 'The business environment remained difficult with global economic uncertainties persisting amid the fiscal concerns in the US and Europe. However, we continued to break our quarterly profit records.'

He added: 'We will do our best to sustain our earnings momentum throughout the fourth quarter by implementing strategies we have developed for our businesses.'

Editor: Graeme Neill

Written by Mobile Today
Mobile Today


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