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Samsung reports record Q2 profits

Profits up 79% to $5.9bn, driven by Galaxy smartphone sales

Samsung reports record Q2 profits
Strong sales of the Samsung Galaxy range have helped Samsung to a record Q2.

Samsung has posted a record quarterly profit for the second quarter, driven by strong sales of its Galaxy smartphones.

The Korean consumer electronics giant reported quarterly profits of 6.7 trillion won ($5.9bn), a rise of 79%. The results marked the highest quarterly profit for Samsung since 2008.

Revenues were up 14% from 39.44 trillion won in Q2 2011 to 47 trillion won in 2012.

While sales of smartphones were strong, other businesses such as chips and consumer electronics are battling weak prices and demand and a limping euro, which eats away at repatriated profits.

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