Galaxy Note 2 and Galaxy S3 drive huge Q4 2012 profits for Samsung
Samsung has posted some ginormous profits for Q4 2012 thanks to strong sales for its Galaxy S3, Galaxy S2, and Galaxy Note 2 handsets
Samsung’s Q4 profits, thanks in no small part to sales of its Galaxy Note 2 and Galaxy S3, were massive. The company posted $8.25 billion in operating profit and around $52.45 billion in revenue.
Profits and revenue were up 10 per cent and 7 per cent from the previous quarter (Q3), respectively. Samsung’s mobile and display business, unsurprisingly, generated the most cash for the company.
Samsung’s thriving semi-conductor business also had a good quarter, accounting for around $1.33 billion, up 39 per cent from Q3 2012. Samsung’s home electronics business – fridges and whatnot – and LED TV business also posted healthy revenue growth for the quarter despite current economic woes.
‘Despite uncertainties in Europe and concerns over the U.S. fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness,’ said Robert Yi, Senior Vice President and Head of Investor Relations.
Apple posted a net profit of $13.1 billion for the same period and confirmed an 18 per cent rise in revenue to $54.5 billion, something it attributed to record iPhone sales. Wall Street was not impressed, however, and shares fell in the company by as much as 12 per cent.
Check out IDC’s reaction to Apple’s earnings call here and find out what 2013 has in store for the iPhone.
And be sure to read Basil’s awesome review of Samsung’s Galaxy Camera as well.