Samsung Electronics Co. can surprise. And it has surprised again with its record quarterly profits exceeding analysts’ expectations as the smartphone bonanza continues. No doubt that the South Korean electronics manufacturer witnessed these strong results as strong sales of its Galaxy models indeed offset weak demand for the company’s TVs. It seems that Samsung Electronics Co. will enjoy maybe even stronger results in the upcoming months as its new Galaxy S4 smartphone is expected to strengthen the company’s presence in the US market.
Samsung Electronics Co. reported its fourth straight quarterly report which beat analysts’ estimates as the South Korea’s producer of TVs and mobile phones made $7.4 billion in the third quarter. Strong sales of Galaxy smartphones helped Samsung Electronics Co. to minimize results of lower sales of memory chips.
Samsung Electronics Co. has beaten analysts’ expectations in the third quarter. The world’s largest technology company by sales saw an operating profit growth of over 85 percent due to strong Galaxy smartphone sales. A record profit in the three months to September of approximately $7.3 billion was reported by Samsung Electronics. The Samsung Electronics’ profit nearly doubled last year’s results thanks to strong sales in both high-end TVs and Galaxy smartphones which balanced reduced orders for chips and screens from company’s biggest rival, Apple Inc.