Samsung Electronics posts record operating profit in Q4
Samsung Electronics on Friday posted a record operating profit of 5.3 trillion won ($4.72 billion) in the fourth quarter and a net profit of four trillion, thanks largely to booming smartphone sales.
The operating profit figure, a 76 percent increase year-on-year, was largely in line with the earnings guidance issued early this month by the South Korean firm.
Revenue in October-December was 47.3 trillion won, a 13 percent rise year-on-year. Net profit was up 17 percent on a year earlier.
For the whole of last year the company logged a net profit of 13.7 trillion won, down 15 percent from the previous year.
Revenue rose 6.7 percent to a record 165 trillion won and operating profit declined 6.05 percent to 16.2 trillion won.
The firm attributed its record quarterly operating profit largely to its strong smartphone line-up.
"Despite intensified competition amid the global economic slowdown, our telecommunications businesses continued to post solid earnings with an enhanced line-up of high-end smartphones, resulting in higher average selling price," said senior vice-president Robert Yi in a statement.
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