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Samsung's mobile division doubles operating profit in Q4

Samsung's mobile division doubles operating profit in Q4
Samsung reported net profits of $6.60 billion USD for the fourth quarter, about 75% higher than what it earned last year. The mobile division reported sales in U.S. dollars of $25.5 billion dollars, up 4% from the third quarter. The company said that the results were lead by strong demand for the dynamic duo, the Samsung Galaxy S III and the Samsung GALAXY Note II. Operating profit for the handset unit came to about $5 billion USD compared to $2.35 billion last year.

Samsung is responsible for about one of every four smartphones shipped globally and is expected to sell 59.7 million smartphones in the first quarter. That would be off slightly from the estimated 63 million smartphones that the Korean manufacturer sold in the fourth quarter and compares with the 47.8 million Apple iPhone units sold in Apple's fiscal first quarter, which also ended last month. The seasonal decline in smartphone shipments in Q1 would seem to indicate that the Samsung Galaxy S IV, the next flagship model for the company, won't launch until after March.

The company's current flagship handset, the Samsung Galaxy S III, has sold 41 million units just 7 months after its May launch while the Samsung GALAXY Note II sold 5 million units by November, just two months after its September release.

source: Bloomberg

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