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Samsung posts $7.4 billion profit for Q3, beats expectations

Samsung beats expectations, posts $7.4 billion profit in Q3

Anthony Garreffa | Oct 25, 2012 at 11:29 pm CDT (0 mins, 50 secs time to read)

Apple may have posted their Q4 results, seeing a tidy $8.2 billion in profits, but Samsung are not so far behind them, posting $7.4 billion profit in the past quarter just gone. The South Korean company told investors to expect $7.28 billion in profits, but beat this reaching $7.4 billion.

Samsung posts $7.4 billion profit for Q3, beats expectations | TweakTown.com

The ever-so-popular Galaxy S III shipments have been increased "significantly due to global expansion", according to Samsung. Smartphones weren't the only thing that pushed Samsung to enjoy a great quarter, with consumer electronic sales also seeing a nice spike, achieving "industry leading profitability" in the TV market. Samsung cited growth in both the consumer space, as well as the sales of OLED panels for televisions, tablets and high-end smartphones.

Samsung's semiconductor sales didn't do so well, dropping 8% thanks to the dropping PC demand across the world. The company expects demand for PC DRAM and other high value-added chip products to continue to remain weak, but notes that the sector is still profitable, and may increase as new products are released.

Last updated: Apr 7, 2020 at 11:29 am CDT

NEWS SOURCE:engadget.com
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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