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January 25, 2013

Galaxy smartphone sales boost Samsung’s Q4

Net profit was $6.6bn for the quarter

By CBR Staff Writer

Samsung Electronics has reported revenues of KRW56.06 trillion ($52.4bn) for the fourth quarter of 2012, compared to KRW47.30 trillion ($44.2bn) it reported during the corresponding quarter in 2011.

The company’s net profit increased to KRW7.04 trillion ($6.6bn) for the quarter, compared to KRW4.01 trillion ($3.7bn) for the same period last year.

Its profit increased slightly to about $0.63bn, when compared to $5.97bn the company posted in the third quarter of 2012.

Operating profit surged to KRW8.84 trillion ($8.2bn) for the quarter, compared to KRW4.67 trillion ($4.3bn) for the same period in the corresponding year.

Mobile Communications generated quarterly revenues increased to KRW27.23 trillion ($25.4bn) due to growth in sales of Galaxy S IIl and Galaxy Note ll.

Samsung’s Semiconductor Businesses which include Memory and System LSI recorded a revenue of KRW 9.59 trillion while its memory chip unit recorded KRW 5.33 trillion revenue and the logic chip unit posted KRW1.42 trillion in operating profits.

Samsung senior vice president and head of investor relations Robert Yi said: "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."

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"Heading into this year, we are expecting a slow recovery in the component business due to reduced capital expenditures, while competition in the set business will intensify further as demand slows and the mid- to low-end market expands," Yi said.

Samsung expects ‘furious growth’ in the global smartphone market last year will be moderated due to price competition and arrival of new products.

The company added that during the coming quarter the demand for smartphones in developed countries is expected drop while demand in the emerging economies is expected to rise.

According to Strategy Analytics, Samsung is expected to widen its gap with Apple in worldwide smartphone sales in 2013 with an increase of 35%, mainly supported by its expanded product line up.

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