Samsung reports record operating profit of $5.9bln

PanARMENIAN.Net - Samsung Electronics Co, the world's top technology firm by revenue, reported on Friday, July 27 a record operating profit of $5.9 billion for the June quarter, as rampant Galaxy S handset sales helped stretch its lead over Apple Inc, according to Reuters.

September quarter mobile profits are expected to forge further ahead as the latest Galaxy model enjoys a sales boom before the next iPhone launch, widely expected in October, driving Samsung's profit to a record of nearly 8 trillion won ($7 billion). The mobile business brings in around 60 percent of Samsung's earnings.

Profits of the handset division more than doubled from a year earlier and the flat-screen business swung to a profit as LCD prices stabilized.

Samsung, valued at $160 billion and the world's leading maker of TVs, said April-June operating profit totaled 6.72 trillion won ($5.9 billion), in line with guidance it issued earlier this month.

That is up 79 percent from a year ago and 15 percent from the previous record - 5.85 trillion won in the March quarter.

Still, its net profit of 5.2 trillion won ($4.5 billion) is only half of the $8.8 billion Apple returned in the last quarter from its iPhone, iPad and Mac computer sales.