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Samsung Announces $7.3 Billion Profits in 2012 Q4

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Samsung Electronics (005930) announced on Friday to have reached a record-breaking profit of $7.3 billion (7.4 trillion won) in the fourth quarter of 2012. This marked a 75.8-percent increase for the South Korean electronics giant.

Earnings for the Koreans are expected to drop until the second quarter of 2013, as they begin the year focusing more on marketing in Q1, aimed to challenge Apple’s latest iPhone and other rival smartphones sharing a $200 billion-plus global smartphone market.

With this projected decrease, other countries with incubating smartphone markets can expect to gain mobile connectivity in this year.

“In the first quarter, demand for smartphones in developed countries is expected to decelerate, while their emerging counterparts will see their markets escalate with the introduction of more affordable smartphones and a bigger appetite for tablet PCs,” Samsung released in a statement.

Analysts are expecting Samsung to bring in $25 billion (28 trillion won) in 2013.

Source: <Reuters> <Channel News Asia>

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