Samsung registers another record profit | RetailDetail

Samsung registers another record profit

Samsung registers another record profit

Samsung has managed to register another record profit in its third quarter, seeing its operational profit rise 26 % to 5.6 billion euro. A strong chip market was the main engine for this new record, with a total Samsung turnover of some 40 billion euro.

Fire at competitor

A fire at Samsung’s main chip competitor, Chinese SK Hynix, is the source of this surge: with fewer chips on the market, the price spiked, helping Samsung to bring in a lot of money through the sale of DRAM memory for mobile appliances.

 

Smartphone sales also helped Samsung's record quarter, as its 4.6 billion euro profit far outweighed analysts’ expectations. Samsung sold 10 % more smartphones in the third quarter, leading to a total of some 40 million smartphones sold for the first part of 2013.

 

Samsung had to take some bad news as well, as it is forced to pay competitor HTC a 245,000 euro fine for writing negative fake reviews. The Taiwanese Fair Trade Commission has imposed the fine onto Samsung for this behaviour, thinking it proven the South Korean company paid students to portray their competitors badly.

 

 

(translated by Gary Peeters)

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