|Samsung's Q4 profit hits new high on Galaxy sales
Samsung Electronics, the world's largest maker of handsets, memory chips, televisions and flat screens, estimated Tuesday that its operating profit hit a new record quarterly high in the fourth quarter due mainly to brisk sales of Galaxy smartphones.
The preliminary operating profit unveiled by Samsung was estimated at a fresh record high of 8.8 trillion won (HK$64.3 billion) in the October-December period, up 88.8 percent from a year earlier, according to an e-mailed statement.
The figure topped the previous record high of 8.06 trillion won tallied in the prior quarter. Samsung saw its operating profit breaching the previous high for five straight quarters.
Sales were estimated at 56 trillion won in the three months ending Dec. 31, up 18.4 percent from a year before. The figure breached the previous record high of 52.18 trillion won in sales tallied in the prior quarter.
Samsung did not unveil its estimate for net profit and a breakdown of each division. The final results will be announced later this month after auditing and the approval of board of directors.
Samsung logged a combined operating profit of 29.01 trillion won in 2012, up 85.8 percent from a year before, and topping the previous record high of 17.3 trillion won tallied in 2010.
Sales posted a fresh record high of 201.05 trillion won in 2012, up 21.9 percent from the prior record high of 165 trillion won in sales for 2011.