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Korean giant reports record profits as phone business becomes the largest in the world.

Samsung profits surge on smartphone success

Korean electronics juggernaut Samsung has unveiled record profits in the fourth quarter, buoyed by surging demand for the firm’s range of Android smartphones.

The company announced operating profit of US$4.5 billion, up an astonishing 73 per cent over the same period the year before. Samsung’s successful smartphone business also enabled the company to overtake Apple to become the world’s largest manufacturer of smartphones.

The Korean industrial giant has fingers in many pies, dominating the manufacture of a range of components such as memory, LCD and OLED display panels and HDTVs. Samsung’s hardware clout helped the firm ship high end devices such as the Samsung Galaxy S2, with their own-brand Exynos SoC and those famous OLED displays.

The firm’s coffers were also swelled somewhat by the sale of the firm’s hard drive business to Seagate for $1.4 billion.

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