Home / / Samsung sees profits up in Q4 2011

Samsung sees profits up in Q4 2011

Samsung predicting profits of $4.5bn for Q4 2011

Samsung sees profits up in Q4 2011
Samsung's profits have been driven by strong sales of smartphones.

Samsung is predicting a strong rise in profits for the last calendar quarter of 2011.

The company said that fourth quarter consolidated operating profit is likely to be 5.2 trillion Korean Won ($4.5bn), from consolidated sales of around 47 trillion Won ($40.5bn).

The figures mark a 73% rise in profits from the same quarter 2010, and a 22% rise from Q3 2011, with results mainly driven by strong smartphone sales.

Samsung sold an estimated 35 million smartphone units in Q4 2011, and its Galaxy Note tablet was also successful.

The company is predicting revenues for fiscal year 2011 will hit 164.70 trillion won ($141.9bn), with operating profit of 16.15tn won ($13.9bn).

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.