Fin24

Samsung posts record profit in Q4

2012-01-27 08:00

Seoul - Samsung Electronics on Friday posted a record operating profit of 5.3 trillion won ($4.72bn) in the fourth quarter and a net profit of four trillion, thanks largely to booming smartphone sales.

The operating profit figure, a 76% increase year-on-year (y/y), was largely in line with the earnings guidance issued early this month by the South Korean firm.

Revenue in October-December was 47.3 trillion won, a 13% rise y/y. Net profit was up 17% on a year earlier.

For the whole of last year the company logged a net profit of 13.7 trillion won, down 15% from the previous year.

Revenue rose 6.7% to a record 165 trillion won and operating profit declined 6.05% to 16.2 trillion won.

The firm attributed its record quarterly operating profit largely to its strong smartphone lineup.

"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," said senior vice-president Robert Yi in a statement.


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