The world's largest maker of mobile phones and TVs, Samsung Electronics Co, reported higher-than- expected fourth-quarter earnings as sales of Galaxy smartphones stood up to the debut of Apple Inc's iPhone 5.
Samsung sold around 62 million smartphones in the quarter, as against Apple's 45 million, according to a Daewoo Securities Co estimate.
Operating profit was up 89 per cent to a record 8.8 trillion won ($8.3 billion) in the three months ended December, according to the company's statement of preliminary results today. Figures for net income and divisions have not been released by the Suwon, South Korea-based company as yet.
Sales were up 18 per cent to 56 trillion won, helped by demand for Galaxy Note II and Galaxy S III phones.
Samsung sold around 62 million smartphones in the quarter, as against 45 million of Apple, according to an estimate by analysts. The South Korean company is fighting a legal case with Cupertino, California-based Apple, which is also its biggest customer. The iPhone 5 was offered for sale in September.
According to Samsung, operating profit might be 200 billion won higher or lower than today's estimate when audited results are announced later this month, with sales differing by as much as 1 trillion won.