Samsung mobile division breaks records in Q3, total profit falls

Samsung just posted its Q3 results and reported that its consolidated profits were lower compared to the previous quarter. The conglomerates division brought in a total of KRW 41.27 trillion in revenue ($37.3 billion) and KRW 3.44 trillion of profit ($3.11 billion).

The sales are up 3% YoY and 5% sequentially, but their net profit is down 23% compared to Q2 of 2010 and 2% sequentially.

However, things are much rosier if you focus on the Mobile phone division only. Samsung mobile phones sales rose "low 20%" on QoQ and "high 20%" YoY. The company become the world's leading smartphone manufacturer selling 27.8 million in the past three months, overtaking Apple, which only managed 17.1 million.

The strong growth, driven by the great performance of the Galaxy S II on the market lead to the Samsung mobile division generating $13.5 billion of revenue, which is a whopping 39% increase compared to the same period of last year and 23% higher than the result for Q2. Operating profits reached $2.3 billion, which represents a 51% sequential increase.

Samsung expects to see more of the same in the holiday season with strong demand for their lineup of high-end products in developing markets and mass market smartphones in emerging markets.

According to the company, the Galaxy Note, the Galaxy Nexus and the Omnia W are the three premium devices that are expected to perform the best in Q4.

Source | Via