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Samsung Electronics posted a record operating profit of over eight BILLION U.S. dollars
for the fourth quarter of last year. This marks the fifth consecutive quarter the
Korean tech giant has posted record profits ... with strong sales of the Galaxy Note II
driving last quarter's bumper figures. Yoo Li-an reports. Samsung Electronics posted
a record operating profit of 8-point-8 trillion won
or roughly 8-point-3 billion US dollars in the fourth quarter of last year.
In an earnings statement Tuesday, Samsung said its operating profits were up a staggering
89 percent on-year. Analysts say demand for the Galaxy Note II
and Galaxy S III contributed significantly to the record profits ... as Samsung's main
rival Apple stumbled with slower than expected sales of its iPhone 5.
2012 is being seen by many as the year which saw Samsung rise as a major leader in the
global mobile computing market, allowing the Korean firm to extend its lead over Apple.
Many have pointed to the company's range of devices from high-end to cheaper alternatives
as one of the main reasons Samsung was able to increase its global market share.
It rolled out 37 different models last year while Apple unveiled one, the iPhone 5.
Market research firm Strategy Analytics says it expects Samsung to further widen its lead
over Apple this year. It forecasts Samsung will sell about 290 million
smartphones in 2013, while Apple will only be able to sell about 60 percent of that.
While Samsung is driving a greater gap between itself and Apple in the global arena, the
tech giant is also bolstering its dominance at home.
According to the Korea Exchange Tuesday, Samsung Electronics' market capitalization took up
about 19 percent of the stock market as of Monday.
This compares with the shrinking market capitalization of Korea's top carmakers, Hyundai Motor and
Kia Motors. Hyundai Motor, ranked second after Samsung
Electronics in terms of market capitalization ... accounted for just four percent of the
total market cap. Yoo Li-an, Arirang News.