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Samsung Q3 net profit hits record $7.4 billion news
26 October 2012

South Korean electronics giant Samsung Electronics Co today reported a record $7.4 billion net profit for the July-September 2012 quarter, its fourth straight record quarterly profit, helped by strong sales of its Galaxy phones.

Samsung said its third-quarter (July-September) operating profit almost doubled to 8.12 trillion won ($7.39 billion) on revenue of 52.18 trillion won ($45.12 billion), in line with the company's preliminary results released earlier this month.

Third-quarter operating profit was up 91 per cent compared to the year-before quarter, while revenue showed a 26-per cent increase, which helped Samsung widen its lead over rivals.

Samsung, which sold around 60 million smart phones during the there-month period ended 30 September, however, did no disclose sales figures for its Galaxy series phones.

Against this, rival Apple Inc is reported to have sold 26.9 million iPhones during the same period. Apple launched its latest iPhone 5 on 21 September 2012.

Apple, however, commands a market value of $578 billion, despite Samsung outselling Apple in gadgets. Samsungs market cap is just a third of the US firm's market cap.

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Samsung Q3 net profit hits record $7.4 billion