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Samsung Net Profits Jump 25 Percent in Q3 2013

by Todd Haselton | October 25, 2013October 25, 2013 7:00 am PDT

Samsung Galaxy Note 3-Front

Samsung published its third quarter 2013 earnings on Friday, noting $7.5 billion in net income, beating out analyst estimates.

The company said its 25 percent profit growth was largely driven by smartphone shipments in China, where Samsung is doing well against local competitors. Samsung also said it noticed demand for its smartphones and tablets increase by high single digit percentages thanks to the introduction of new products during the quarter. Its mobile unit posted a profit of 6.7 trillion won, Bloomberg said, a bump up from 5.63 trillion won in profits the unit posted during the third quarter of 2012. Unfortunately the company didn’t disclose any figures on how well its new Galaxy Gear smartwatch is doing.

Samsung said it expects increased demand for its TVs during the holiday “peak” season, but warned that competition will intensify for its televisions that measure greater than 60-inches and in the 4K UHD market. That said, it expects demand for its LCD TVs for fall slightly.


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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