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Samsung posts record $7.3bn quarterly profit
- South Korea: Saturday, October 06 - 2012 at 01:52
Samsung Electronics has posted quarterly profit of $7.3bn, a fourth straight record quarter and nearly double last year's figure, as strong sales of its Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc., the South Korean group's main rival and leading customer, Reuters has reported. However, analysts said the record run will come to an end in the current quarter as Samsung spends more on marketing to counter Apple's latest iPhone and other rival products. "Fourth-quarter profit will be pressured by one-off expenses: performance payouts and some $1bn in legal provisioning relating to the Apple litigation. Excluding those, core earnings will remain solid and a swing factor is how much Samsung spends on marketing," said Lee Sun-tae, analyst at NH Investment & Securities.
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