Samsung Profits Rocketing Amid Smartphone Domination

By Gary Cutlack on at

Samsung's quarterly profits exploded by 76 per cent in the final three-month chunk of 2012, thanks to soaring demand for its smartphones and the many internal bits it supplies to other makers.

Its net profit for the last quarter of 2012 stood at around £4.1bn. Samsung's own earnings statement claims its stellar growth was "driven by solid sales of Samsung’s Galaxy S IIl and Galaxy Note ll," with Samsung's sales data saying it shifted 19 per cent more smartphones than in the same three months of 2011.

However, Samsung warns that a "slew" of new phones in early 2013 may lead to a drop off in the "furious growth spurt" the industry has seen of late.

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