Samsung Electronics announces record earnings for fourth quarter 2012

Samsung's consolidated operating profit for the quarter hit $8.27bn, a 10% increase from last quarter, while consolidated net profit for the same quarter was $6.6bn a 76% increase from the same quarter last year.

Samsung posted full year revenue of $188.09bn with an overall operating profit of $27.17bn, ending a very successful year for the company.

Highlighting the quarterly performance, Mobile Communications generated quarterly revenues of $25.47bn, a four% increase compared with the previous quarter.

The company has performed exceptionally well in the GCC market as well. In the Gulf, Samsung recorded a 214% increase year-on-year in mobile communication devices sales for 2012 following the launch of the GALAXY S III, the Galaxy Note II and its comprehensive portfolio of mid-range feature phones, smartphones and tablets.

Within the UAE specifically Samsung recorded a 340% increase year-on-year within mobile communication devices sales and according to the GfK data, 40.2% market share as of December 2012.

"2012 has been an outstanding year, globally as well as regionally as customers across the Gulf have responded positively to the launch of our flagship products, the GALAXY SIII and the Galaxy Note II. Within the GCC we reported a robust 214% growth year-on-year, a great end to 2012," Said Young Woo Jun, Director, Telecommunications Group, Samsung Gulf Electronics, Samsung.

"We expect smartphones and tablets to continue driving the market share in 2013 as we continue to launch new and innovative products that are in-line with our customer's expectations in the region," he added.

For 2013, Samsung expects the demand for smartphones and tablet PCs to increase significantly, while the growth for feature phones is expected to remain static. Emerging markets and the continued market adoption of LTE (Long-Term Evolution) wireless telecommunications technology will also contribute to the growth of the smartphone market this year.