Samsung Posts Record Quarterly Profit Thanks To Smartphones

Samsung released their Q4 2011 earnings report early Friday morning from the headquarters in South Korea. Samsung posted a reported $4.7 billion operating profit.

Samsung said that their $4.7 billion in operating profit was fueled by booming smartphone sales. Although the company didn’t report (and never does) their number of smartphones sold, analytics firm Strategy Analytics estimates that Samsung sold 36.5 million smartphones in the October to December period. Unfortunately that wasn’t good enough to hold onto their lead as the largest global manufacturer of smartphones. For this three month period Apple’s 37.04 million iPhones was good enough to earn that honor.

Samsung also announced that in 2012 they plan to spend $22 billion for production of chips and flat screens.

source: Reuters