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Samsung posts record Q3 profits of $9.65 billion

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After LG announced its Q3 results yesterday, it’s the turn of fellow South Korean manufacturer Samsung. And unlike LG, Samsung has seen incredible growth both in terms of revenue and profits. The company earned a total of $55.6 billion this passing quarter which is up from $49.1 billion from Q3 back in 2012. The total profits made by the company this past quarter were $9.65 billion, which is a new high for the company. Needless to say, a majority of these revenues come from the mobile and semi-conductor units of Samsung which have grown in stature over the years.

Speaking about the mobile division, Samsung’s high end mobile sales remained relatively flat while the midrange or mass market devices accounted for most of the sales along with the new Galaxy Tab 3 line of tablets. The company expects to take this momentum going into Q4 with the holiday season in sight. Samsung will look to improve sales of its high end flagships as well and the recent arrival of the Galaxy Note 3 phablet should help greatly with that. The company recently claimed to have shipped over 40 million units of the Galaxy S4 flagship since its launch.

Source: Samsung

Via: Android Central

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