Samsung expects to post record profits on smartphone sales

PanARMENIAN.Net - Samsung Electronics has said it expects to make a record profit for the quarter to the end of December, powered by growing sales of its smartphones, BBC News reported.

It has estimated an operating profit of 8.8 trillion won ($8.3bn; £5.1bn) for the quarter, a 90% jump from the same period a year earlier.

That would make it the fifth quarter in a row of record profits for Samsung.

The success of its Galaxy smartphones helped Samsung overtake Nokia as the world's biggest phone maker last year.

Analysts said that given the popularity of its smartphones, the South Korean firm was likely to see its profits grow further in the coming months.

"Not only are their smartphone sales growing, they have also learned how to make a good profit on those sales," James Rooney, chairman of Market Force Company, an advisory firm based in Seoul, said.