Samsung Smashes Record for Smartphone Sales
It's been a good few months for South Korean technology company Samsung. Earlier this year they toppled Nokia from the top of the league table for mobile phone sales, and this week they reported a record quarterly profit of $5.9 billion, due in large part to rampant sales of Samsung smartphones.
The company's earning statement was in line with expectations and represented a rise of 79% on the same period last year.
They did not reveal smartphone specific numbers for the 2nd quarter although analysts expected the company to have extended its lead over Apple and Nokia in this key market.
Apple shipped 26 million iPhones in the June quarter, fewer than in the previous quarter and well below the 28-29 million that Wall Street had predicted. Samsung is estimated to have increased sales to around 50 million.
Samsung makes TVs, chips and displays in addition to smart phones, but the figures suggest that it is very much the smart phone side of the business that is currently driving revenue growth.
Shares in Samsung, the world's top TV maker, have climbed 9 percent so far this year, versus a 3 percent drop in the wider market. ($1 = 1146.8500 Korean won)