Samsung posts record 'profit of $8.3 bln' spurred by smartphone sales

Last Updated: Tue, Jan 08, 2013 05:20 hrs

South Korean electronics maker Samsung has posted a record profit in the October to December quarter.

The firm posted an operating profit of 8.8 trillion won (8.3 billion dollars) for the quarter, a 90 percent jump from the same period a year earlier.

That would make it the fifth quarter in a row of record profits for Samsung, the BBC reports.

According to the report, the success of its Galaxy smartphones helped Samsung overtake Nokia as the world's biggest phone maker last year.

One of the key drivers of Samsung's smartphone sales in recent months has been its Galaxy S3 model.

The firm, however, faces increasing competition, from rival Apple, which launched its iPhone 5 in September last year.

Other rivals, such as Nokia and HTC, have also launched new handsets powered by Windows Phone 8, in an attempt to increase their market share. (ANI)

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