Samsung continues stellar financial performance

Samsung continues stellar financial performance

Smartphones continued to be a key part of Samsung's success, with net profit up 25.6% to 8.24 trillion Korean Won (£4.7bn).

Sales at the electronics giant for the three months to the end of September were also up 13.2% to 59.08 trillion KRW (£34.34bn). Samsung said smartphone sales increased by up to 10% quarter on quarter thanks to sales of mass market devices. It said high end sales were broadly flat on the previous quarter but the manufacturer noted 'solid sales' of its Galaxy Note III device.

The results further underlined how critical the mobile business is to Samsung's success. It had mobile sales of 35.20 trillion KRW (£20.45bn) during the quarter, more than half of its total sales. Operating profit in its IT and mobile communications wing was 6.7tr KRW (£3.89bn), up 7% on its previous quarter.

Yesterday Samsung revealed that its Galaxy S4 device continued to be its fastest selling smartphone ever. The world's biggest phone maker said it had sold 40 million Galaxy S4s during the past six months.

Author: Graeme Neill

Written by Mobile Today
Mobile Today


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