Samsung reports record profits boosted by Galaxy range

KOREAN PHONE MAKER Samsung has reported record quarterly profits, as its Galaxy range of smartphones boosted overall sales.

The firm's telecoms arm earned a record $2.35bn profit during the quarter ended 30 December 2011 after a surge in sales of Galaxy smartphones.

Samsung's profit for the fourth quarter of 2011 was $4.72bn, up 76 per cent from a year ago and 25 per cent from the third quarter.

Although Samsung did not give its volume of phone sales for the quarter ended 30 December, analyst firm Strategy Analytics estimated the Korean company sold 36.5 million smartphones. This is only slightly lower than Samsung rival Apple's 37.04 million Iphones shipped during the fourth quarter. Nokia, meanwhile, sold 19.6 million mobile phones.

The Korean firm said it will increase its spending this year by nine per cent to 25 trillion won, with 15 trillion won going to its semiconductor division.

In addition, 6.6 trillion won will go to its flat screen division and the rest will go towards adding overseas production capacity and new research and development centers. µ