Samsung posts record profits in its latest earnings report

Samsung released its Q3 2013 earnings report. As expected, the Korean giant posted record-shattering profits which slightly exceeded the guidance from earlier this month.

Samsung posted consolidated operating profit of 10.16 trillion won (approximately $9.56 billion) from 59.08 trillion won (roughly $55.59 billion) of revenue. Samsung’s profits came in 7% higher than the previous quarter and an impressive 26% more than the same period last year.

Unsurprisingly, the mobile division chipped in significantly to the profits. Its growth was driven by increased sales of mass-market, lower-cost models. High-end devices’ shipments have remained at similar level with the previous quarter.

Samsung tablets have done well over the past quarter as well. Their shipments have increased sharply thanks to expanded product lineups.

Samsung’s next quarter outlook for its mobile division is upbeat. The company expects steady growth for both smartphones and tablets thanks to increased demand during the holiday season.

You can see the full breakdown of Samsung’s financial performance by hitting the source link below.

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