Samsung profits double year-on-year thanks to Galaxy S3
26th Oct 2012 | 10:39
Another strong showing from the Korean firm
Samsung has posted another successful quarter of earnings, as the Korean firm reveals profits have almost doubled since last year.
The electronics manufacturer revealed it had generated $47.5 billion (around £29.5 billion/AU$46 billion) in revenue during the third quarter of 2012, with an operating profit of $7.4 billion (around £4.6 billion/AU$7.2 billion) and a net profit of $5.97 billion (around £3.7 billion/AU$5.8 billion).
It notes that the profit represents a 91 per cent increase on earnings during the same period in 2011, which is sure to thrill Samsung's bosses and investors alike.
Mobiles lead the way
The company says its smartphone business has played a large part in its huge profit gain this year, with the likes of the Samsung Galaxy S3 proving very popular around the world, with the mobile division accounting for almost half of Samsung's total revenue.
Samsung also highlighted its Organic Light-Emitting Diode (OLED) and Liquid Crystal Display panels as contributing factors to its strong financial results, with the displays appearing in a variety of smartphones, tablets and TVs.
For the final quarter of the year Samsung predicts strong sales in the tablet PC market, plus the impending holiday season will boost demand for technology, however it expects its PC memory sector to witness a weak quarter as demand diminishes.