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Samsung tips record-high 4Q profit

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January 7, 2013 06:54 PM EST | AP


SEOUL, South Korea — Samsung Electronics estimates its operating profit for the last quarter of 2012 nearly doubled over a year earlier to a record-high.

The company's Tuesday earnings preview puts October-December operating income at 8.8 trillion won ($8.3 billion), slightly higher than the market consensus of 8.7 trillion won.

The world's largest maker of mobile phones, memory chips and TVs tipped its fourth-quarter revenue at 56 trillion won, up 18 percent from a year earlier.

Analysts say nearly 70 percent of the operating income for the quarter comes from Samsung's mobile division that makes and sells Galaxy smartphones and tablets.

Samsung has renewed its quarterly operating profit since the final quarter of 2011 as strong sales of Galaxy S smartphones and mid-priced handsets helped it emerge as the top mobile-phone maker.