Thursday, July 26, 2012

Samsung quarterly profit surges amid smartphone boost

Models showing Samsung Galaxy phones

It made a net profit of 6.72tn won ($5.9bn; £3.8bn) in the second quarter, a 79% jump from a year earlier.

Samsung, which makes the Galaxy range of smartphones, overtook Nokia as the world's biggest maker of mobile phones earlier this year.

Analysts said Samsung's earnings were likely to rise further in the future.

"Solid results from TV division shows its resilience to the eurozone crisis, while mobile division has become a cash cow on the back of strong Galaxy sales," said Seo Won-Seok, an analyst at Korea Investment & Securities.



Source & Image : BBC

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