Manufacturer reports net profit of US$6.6 billion.
Samsung has announced record quarterly profits of US$6.6 billion for Q4, showing a 76 per cent spike in profits.
Strong sales of the South Korean manufacturer’s smartphones and tablets played a crucial role in the firm’s Q4 performance, with revenues also up by 19 per cent to US$52.6 billion.
Robert Yi, senior vice president and head of Investor Relations, said: "Despite uncertainties in Europe and concerns over the US fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness.”
However, despite the firm’s impressive Q4 profits, Yi remains cautious with regards to Samsung’s position in the market over the coming 12 months.
The company has suggested that the significant number of new products coming to market and the inevitable price competition to follow will make 2013 a challenging year.