Making everything from TVs to cameras, computers, printers, MP3 players as well as memory and storage media, Samsung Electronics (005930.KS) pointed to the growth in its smartphone business as key for its Q3 2011 financials.
For the three months ending 30 September, its telecommunications business recorded all-time high quarterly sales of 14.9 trillion won, (around $12.5 billion), up 37 percent year-on-year.
This accounted for around 36 percent of the company's total sales.
Galaxy-wide
It said growth was mainly driven by strong sales of its Galaxy family of smartphones.
Handset shipments rose more than 20 percent quarter-on-quarter, with smartphone sales up 40 percent quarter-on-quarter and 300 percent year-on-year.
The Galaxy S II device has shipped of more than 10 million units since launch.
Operating profit for the business hit a record 2.52 trillion won (around $2.1 billion).
Wanging the dog
Overall, Samsung Electronics posted consolidated Q3 revenues of 41.3 trillion won (around $35 billion), up 3 percent year-on-year.
Consolidated net income was 3.44 trillion won (around $2.9 billion), down 23 percent.
"Despite the difficult business environment due to the economic slowdown in developed markets, Samsung achieved a solid performance and recovered its double-digit operating profit margin in the quarter, driven by strong sales of our smartphones," said Robert Yi, VP and head of investor relations.
Samsung also pointed to the rapid depreciation of the won against the dollar during September that resulted in foreign exchange-related losses of around 420 billion won (around $350 million).
[source: Samsung]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
Feature
Mar 25th, 2024
5 takeaways from GDC 2024: The games industry reckons with key challenges, Godot competes with Unity, and AI was the big trend without the big announcements
Feature
Mar 25th, 2024
Hot Five: Epic’s app store plans, Turkey’s tax exemptions, and Call of Duty Warzone: Mobile finally releases globally
Events
Mobidictum Network Lisbon April 2024 | Europe | Apr 16th |
HIT Games Conference Istanbul 2024 | Apr 18th | |
App Promotion Summit London | Europe | Apr 25th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
Mobidictum Meetup Barcelona September 2024 | Europe | Sep 1st |
Popular Stories
Feature
Mar 25th, 2024
5 takeaways from GDC 2024: The games industry reckons with key challenges, Godot competes with Unity, and AI was the big trend without the big announcements
Interview
Mar 22nd, 2024