Samsung Electronics, the world’s largest consumer electronics maker, said its fourth-quarter profit rose 76 percent to another record high on strong sales of Galaxy smartphones and tablets.
The South Korean electronics giant today reported a net profit of 7.04 trillion won ($6.6 billion), up from 4.01 trillion won in the same period a year earlier.
It was the fifth consecutive record quarterly profit for Samsung, which reported fourth-quarter sales of 56 trillion won ($52.6 billion), a 19 percent increase. Nearly half of that revenue came from its mobile communications division, particularly strong sales of its Galaxy S3 smartphone and Galaxy Note 2 phablet.
The results were slightly better than earnings guidance issued by the company earlier this month.
Samsung announced early this month that it had sold more than 100 million smartphones in the Galaxy series since its launch in May 2010, calling it “the driving force” behind the electronics maker’s “rise to the top” in the global smartphone market.
“Despite uncertainties in Europe and concerns over the U.S. fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness,” Investor Relations chief Robert Yi said in a statement.