Samsung smartphone sales push profit to record levels
Samsung, the world's second largest phone manufacturer, reported strong last quarter cell phone sales of 80.7 million sold units, a 17% year-on-year increase. This brought yearly phone sales to its target of 280 million. The mobile arms of the company registered record operating profit of around $1.29 billion (1.44 trillion won) for the fourth quarter.
The company's high-end Galaxy S series sold more than 10 million units worldwide handsets, while the Samsung Galaxy Tab went over the 2.0 million sold units mark just recently. While the first quarter of 2011 is expected to be a bit slower, at such a rate, the manufacturer is right on its way to achieve its goal to overtake Nokia as the world's biggest phone manufacturer in three years.
Sammy's target for 2011 smartphone sales stands at 60 million units, twice as much as the smartphones sold in 2010. Check out the press release below for all the sweet numbers.