Samsung on Friday reported record earnings for the fourth quarter last year. In line with the company’s estimates as reported earlier this month, Samsung recorded an operating profit of 5.3 trillion won, or approximately $4.72 billion USD, on sales of 47 trillion won, or approximately $42 billion USD. Samsung had never reported a profit of more than 5 trillion won in a single quarter and its 5.3 trillion won profit represents a 76% increase over the holiday quarter in 2010. Samsung’s mobile business registered an operating profit of 2.6 trillion won in the fourth quarter thanks to mobile phone shipments totaling a record 35 million units, and operating profit from its semiconductor business accounted for 2.3 trillion won. The company’s full-year net profit of 13.7 trillion won was down 15% year-on-year, however, though full-year revenue rose 6.7% in 2011 to 165 trillion won. “Despite intensified competition amid the global economic slowdown, our telecommunications businesses continued to post solid earnings with an enhanced line-up of high-end smartphones, resulting in higher average selling price,” Samsung senior vice-president Robert Yi said in a statement.
Samsung’s Q4 delivers record $4.7 billion in profit on $42 billion in revenue
Updated Dec 19th, 2018 7:44PM EST
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
