Samsung's operating profit jump by 72.7 % in December quarter
Posted By: Religare
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Samsung Electronics Co has reported record profits in the fourth quarter of 2011. Operating profit in this quarter rose year-on-year by 72.7 per cent to 5.2 trillion won (USD 4.5 billion) from 3.01 trillion won in the corresponding quarter of the previous year. This rise was driven by record sales of its Galaxy smartphones. It sold a whopping 32 million units in the fourth quarter, up from 27.8 million units in the third quarter. Samsung overtook Apple in the third quarter to emerge as the biggest smartphone seller in the world.
During the year it sold 300 million units of mobile phones. Its Galaxy smartphones use Google's Android operating system. Apple is suing Samsung in courts around the world for copying the technology of its iPhone and intellectual property infringement.
The other segments of the company like TV making unit also performed reasonably well. The TV making unit posted an operating profit of 170.5 billion won. In the corresponding quarter of the previous year, it had posted an operating loss of 170 billion won.