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Friday, October 26, 2012

Mobile phone sales help Samsung generate record quarterly profit

Samsung Electronics has published its results for the third quarter of 2012. Revenue was up 26% year-on-year to 52.18 trillion South Korean Won (£29.5 billion), while operating profit was up 91% to a company record of 8.12 trillion Won and net profit was 6.56 trillion Won.

The figures were in line with Samsung’s earnings guidance revealed earlier in October.

Increased sales of mobile phones and stronger demand for display panels are being credited with this success. Samsung’s Mobile Communications business unit accounted for more than half of the company’s total revenue: 26.25 trillion Won.

Robert Yi, Senior Vice President and Head of Investor Relations at Samsung, 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. We will do our best to sustain our earnings momentum throughout the fourth quarter by implementing strategies we have developed for our businesses.”

As with previous quarters, specific sales figures for mobile phones weren’t revealed.

[Results presentation (pdf)]

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Author: The Fonecast
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