Samsung in record quarterly profit
SAMSUNG Electronics has reported record quarterly profits thanks to increased sales of smartphones and memory chips.
The South Korean firm’s net profit in the three months to the end of June was 4.28 trillion won (£2.3bn). That reprsented an 83 per rise on the same period a year earlier.
Revenue surged by 17 per cent, to 37.89tn.
Despite the strong results, Samsung warned that it would struggle to maintain such high profits.
The company’s head of investor relations, Robert Yi said: “In the second quarter, our component business performed very strongly, yet it was a more challenging quarter for our set businesses.
“With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels.”
Although the profits were better than expected, analysts focused more on the company’s downbeat outlook for the coming months.
Samsung is the world’s largest manufacturer of flat screen televisions.
It is the second largest manufacturer of mobile phones, behind Finland’s Nokia.