Samsung Electronics has announced financial results for the fourth quarter of its financial year. Revenue was up over 18% year-on-year to 56.06 trillion Korean won (£33 billion), while consolidated net profit was up almost 76% to 7.04 trillion won (£4.14 billion).
This means revenue was 201.10 trillion won for the full year.
The company’s Mobile Communications division generated quarterly revenue of 27.23 trillion won, with this growth mainly driven by sales of Samsung’s Galaxy S IIl and Galaxy Note ll. Handset sales figures aren’t reported by Samsung, although ABI Research has calculated that the company shipped 60 million smartphones and 46 million other mobile handsets.
Robert Yi, Senior Vice President and Head of Investor Relations at Samsung, said “Despite uncertainties in Europe and concerns over the U.S. fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness. Heading into this year, we are expecting a slow recovery in the component business due to reduced capital expenditures, while competition in the set business will intensify further as demand slows and the mid- to low-end market expands.”