Samsung Electronics said its operating profit nearly doubled in the fourth quarter, on strong sales of high-end smartphones and the growth of its processor business for mobile devices.
The world?s largest handset, memory chip and TV maker reported an estimated operating profit of 8.8 trillion won (US$8.2 billion) for the October-December period, up from 4.66 trillion won a year earlier. Its estimated revenue was 56 trillion won in the quarter.
The South Korean company released the numbers as part of its preliminary earnings report, with its actual results due on Jan. 25.
Samsung?s mobile business is expected to stay strong at least until the second quarter of 2013, as it plans to roll out new high-end smartphones. In addition, rising demand for mobile application processors should boost the operating profit of its semiconductor division 47 percent in the fourth quarter from a year ago, according to Jeff Kang, an analyst with Daishin Securities in Seoul.
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Source: http://www.pcworld.com/article/2024206/samsung-says-profit-likely-doubled-on-phone-chip-sales.html
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