Apple was not alone yesterday in announcing its latest financial results. Samsung announced its fiscal 2012 third quarter results with revenues coming in at 52.18 trillion Korean won (about US$47.5 billion) and record operating profits of 8.12 trillion won (about US$7.4 billion).
Samsung attributed much of its success to increased mobile phone sales and stronger demand for display panels. Its Mobile Communications Business alone accounted for more than half of its revenues. Without providing any shipment numbers, it singled out its flagship Samsung Galaxy S III as a “key” driver in raising profit margins. It also described sales of its Galaxy Tab and Galaxy Note 10.1 tablets as “strong.”
Looking forward, Samsung expects Q4 to be another strong quarter despite increasing competition. According to Robert Yi, Senior Vice President and Head of Investor Relations:
“The business environment remained difficult with global economic uncertainties persisting amid the fiscal concerns in the US and Europe. However, we continued to break our quarterly profit records. We will do our best to sustain our earnings momentum throughout the fourth quarter by implementing strategies we have developed for our businesses.”
Samsung is definitely on a roll; this was its fourth consecutive record quarter. Will it be able to make it five in a row?
Read more: Samsung