Samsung's quarterly profit zooms 76 per cent to $8.3 billion

Samsung Electronics Co reported record 76 per cent in its fourth quarter 2012 profit at $8.3 billion on the back of strong smart phone sales and higher margins in its chip business.

Samsung Electronics Co, the world's top handset maker, sold 63 million smart phones in the October-December 2012 quarter with a 29 per cent share of the global smart phone market, according to a report by research firm Strategy Analytics.

Rival Apple Inc said it sold 47.8 million iPhones in the same period.

For the whole of 2012, Samsung sold 213 million smart phones with a 30 per cent market share against Apple's sale of 135.8 million iPhones, with a 19 per cent market share, according to the report.

The South Korean firm said October-December operating profit increased 89 per cent to 8.84 trillion won ($8.3 billion), in line with its earlier estimate.

Samsung also kept its 2013 investment at a similar level to 2012, despite a bleak PC outlook and a move by rival Apple Inc to diversify its supplier base.