Samsung’s smartphone sales boosted profit

Samsung Electronics Co. jumped to a record in Seoul trading after surging smartphone sales boosted profit and helped Asia’s largest consumer-electronics company keep pace with Apple Inc.

Fourth-quarter net income rose 17 percent to 4 trillion won ($3.6 billion), from 3.42 trillion won a year earlier, the Suwon, South Korea-based company said in a statement today. The average of 28 analyst estimates compiled by Bloomberg was 3.99 trillion won. Sales rose 13 percent to 47.3 trillion won, in line with a preliminary estimate announced Jan. 6.

Samsung shipped more smartphones last year than Apple did iPhones, with the popularity of its Galaxy models helping the Korean company sell a record 300 million handsets. Samsung, whose parent group plans a record investment this year, is introducing more phones and tablet computers to cushion slumping profits at its liquid-crystal display business amid a global economic slowdown.

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One response to “Samsung’s smartphone sales boosted profit

  1. great blog. i like how you said ‘how can it be classed as work you are doing something you love’
    i am now doing what i love , i have voted and followed you. look forward to more your post

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