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Net profit up 91 per cent from last year

Samsung sees record Q3 profits thanks to Galaxy smartphones

Samsung says its flagship Galaxy S3 smartphone has been a key driver in raising profit margins.

The South Korean firm’s net profit was 6.5tn won (£3.7bn), up a massive 91 per cent from a year earlier.

It wasn’t just the success of its Galaxy range that helped Samsung achieve this profit, its display panels were also a big factor.

“Samsung’s solid performance is mainly attributed to increased sales of handheld phones and stronger demand for display panels,” read Samsung’s official statement.

“The Mobile Communications Business posted 26.25 trillion won in revenue for the quarter, accounting for more than half of Samsung’s total revenue. As for the display panel segment, increased shipments of Organic Light-Emitting Diode (OLED) and Liquid Crystal Display panels used in tablets and smartphones, as well as TVs drove up profitability.”

It seems Samsung’s devices really are cool enough

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