TORONTO - Profits are up at Samsung Electronics Inc.
The South Korean-based electronics giant says it made 3.5 billion dollars in the final quarter of last year—up 17 per cent over the same time in 2010.
The world's biggest manufacturer of memory chips and liquid crystal display says its Galaxy range of smartphones boosted sales overall.
On Tuesday, Apple said it sold 37 million iPhones in the last three months of 2011, vastly exceeding analyst estimates and propelling the company to record quarterly results. According to Strategy Analytics, while Samsung was the top smartphone seller in 2011, Apple sold more handsets in the fourth quarter.
Global News compares the fourth quarter profit results from the two mega tech giants.
| Apple | Samsung |
Quarterly operating profit | $17.3 billion | $4.72 billion |
Fourth quarter net profit | $13.06 billion, more than double of its net income from last year | $3.6 billion, up 17 per
cent from its net income from last year |
Total cash earnings: | $97.6 billion | $42 billion |
Number of smartphones sold in the three months ending in December: | $37 million, with customers snapping up the latest 4s model—one week
after the death of co-founder Steve Jobs | $36.5 million, most sales attributed to the Galaxy S2 |
2010 capital expenditure | $2 billion | $18.7 billion |
Apple
has accused Samsung of copying its smartphone and iPad design and
pursued legal action against Samsung in April last year in the United
States.
-With a file from The Associated Press
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