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Tuesday, January 08, 2013
Samsung Forecasts Record Profit For 4Q

Samsung Electronics expects record earnings for the fourth quarter of 2012 as sales of its smartphones and tablets are soaring.

The company said Tuesday its operating profit for the October-December quarter would be about 8.8 trillion won ($8.3 billion), up 89 percent from a year earlier and higher than expectations. It will release its full quarterly result including net profit at the end of this month.

The company said fourth quarter revenue likely rose 18 percent from a year earlier to 56 trillion won.

Analysts said nearly 70 percent of the operating income for the quarter was likely generated by Samsung's mobile division that makes and sells smartphones and tablets.

Samsung's mobile business, which recently overtook Apple in smartphone sales and Nokia in mobile handsets, has driven Samsung's earnings growth in recent quarters.

The company launched the Galaxy Note II smartphone in September, which helped Samsung retain its market dominance during the Christmas holiday season despite competition from Apple's iPhone 5. Samsung's flagship Android device, the Galaxy S III, also sold strongly.

Analysts speculate that Samsung will introduce a new Galaxy S smartphone, likely to be named the Galaxy S IV, before the end of April.

In addition, the company plans to act more aggressively to increase its share of the tablet PC market this year.

Robust demand for smartphones around the world is also benefiting Samsung's semiconductor operation as well. The company is the world's largest supplier of TVs and memory chips.

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