Samsung Profit Dips Quarterly But Sees 300% Yearly Rise In Smartphone Sales

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Samsung today announced its third-quarter earnings, providing a look at how well the company is competing in the electronics, semiconductor and telecommunications sectors, confirming that smartphone sales helped it to beat industry estimates to secure record high earnings.Korean smartphone giant Samsung posted net profits of 3.44 trillion won ($3.09 billion) between July and September, down 23% from a year ago.

The results now suggest that Samsung has surpassed Apple to become the world’s leading smartphone maker, with sales in its telecommunication division seeing  300% rise from a year ago and a 40% increase from the second quarter.

Analyst forecasts, that averaged at a value of 3.24 trillion won, as sales rose 3% over the year to reach 41.27 trillion won and operating profit fell 13% to 4.25 trillion won.

Samsung continued to develop its range of Android and Windows Phone devices, ensuring it marketed its range to consumers in the low, middle and high smartphone markets, capitalising on a lull in Apple’s iPhone sales as consumers waited to upgrade to the iPhone 4S.

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