Samsung Nearly Doubles Profits in Third Quarter of 2012

Posted Mon Oct 29, 2012 at 09:30 AM PDT by Dick Ward

TV and home theater products accounted for a chunk, but the real savior for Samsung was mobile.

The folks at Samsung have been having a great year, much unlike the rest of the home theater and consumer electronics industry. Where companies like Sharp and Sony continue to falter, Samsung is thriving.

A good chunk of the increased profits for the third quarter of the year come from their smartphones and tablets, which increased sales by 41 percent over last year's number. In all, the mobile and IT division was up 132 percent in profits as well as 82 percent in revenue.

Despite other companies losing sales in TVs, Samsung is growing there. The 19 percent increase in sales is a bit more modest than the mobile numbers, but it's still a significant jump. With the holidays coming up, Samsung is expecting to boost those sales numbers even more.

Source: TWICE

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Tags: Samsung, Industry Trends, Sales Figures (all tags)