Samsung posts record $6.6billion Q4 net profit

Samsung posts record $6.6billion Q4 net profitIn an official substantiation of the fact that 2012 was a good year for Samsung, the recently-released fourth-quarter financial results of the South Korean company have revealed that its net profit figures touched a record high with 7.04 trillion won ($6.6 billion); a figure which was a whopping 76 percent higher than the company's net profit during the same quarter a year back.

With the record fourth-quarter net profit posted by Samsung essentially being an upshot of notably strong sales of its devices, like the Galaxy S3 handset and the Galaxy Note 2 phablet, the company's operating profit for the quarter was more than 8.42 trillion won ($8 billion); another record high, marking a 10 percent quarter-on-quarter increase.

The record net profit reported by Samsung for the October-December quarter came on the back of quarterly revenue of 56.06 trillion won ($52.4 billion), which was 18.5 percent more than the previous year revenue figures.

The quarterly financial results posted by Samsung fell in line with the earnings guidance which the company disclosed on January 8; projecting that its consolidated revenues for the fourth quarter would be nearly 56 trillion won
($52.3 billion), while its consolidated operating profit would be almost 8.8 trillion won ($8.2 billion).

Pointing out that Samsung did its best to achieve "strong earnings" during fourth quarter, Robert Yi - the company's SVP and chief of investor relations - said that the record quarterly results were largely "based on a strategic focus on differentiated and high value-added products, as well as our (Samsung's) technological competitiveness."