Samsung makes record profit on smartphone sales

City A.M. Reporter
Samsung saw record third quarter revenues of 52.18 trillion Korean won (£29.5 trillion), up 26 per cent year on year, it said today.

The South Korean electronics company posted record profit of 8.12 trillion won over the quarter, a 91 per cent increase.

Revenue was boosted by sales of Samsung's smartphones, particularly by the new Galaxy S III model that launched in May. Research firm IDC estimates that Samsung sold 56.3m Galaxy phones over the third quarter worldwide.

The mobile phone division alone garnerned 26.3 trillion won in revenue, accounting for more than half of Samsung’s total revenue over the period.