Samsung posts record profits in Q4 2012

Samsung announced its quarterly earnings for Q4 2012 and the company posted record profits amid strong smartphone and chip sales.

In the quarter, revenue rose to 56.1 trillion won, up 18 percent year over year. Samsung’s net profit also climbed to a record 7.04 trillion won ($6.6 billion), up from the 6.56 trillion won in the previous quarter and 4.01 trillion won a year earlier .

Based on its earnings, Samsung’s smartphone sales were strong. The Korean company doesn’t report unit sales, but analysts estimate the manufacturer sold 60 million smartphones and a total of 100 million mobile phones in the quarter. 62 percent of the company’s operating profit comes from its cellphone and telecom equipment division.

Samsung’s chip division is also very profitable for the Korean company. Operating profit for the division was 14.8%, up from 11.7% in Q3 2012 due to demand for the company’s mobile processor.

[Via WSJ]

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