Samsung posts record operating profit of $9.6 billion for Q3 2013

Samsung Electronics has just posted the results for Q3 2013 ( July to September ) indicating record high operating profit and total sales. Here are the Sales, Operating and Net profit figures.

Total Sales of $55.6 Billion ( 59.08 Trillion Won )
Operating Profit of $9.6 Billion ( 10.16 Trillion Won )
Net Profit ( after tax ) of $7.6 Billion ( 8.24 Trillion Won )

Samsung says these staggering results are mainly due to huge profits from Memory chip business and sales of cheaper Galaxy smartphones in emerging markets. Despite strong results stocks of Samsung still fell 0.4 percent. Demand for Storage and RAM increased and the Operating profit from the chip division went from 1.02 trillion won ( previous year ) to 2.06 trillion won suggesting the huge growth in that segment.

Smartphone division also posted great results but suprisingly its from the sales of cheaper Galaxy smartphones from emerging markets like China, South America and eastern Europe. Income from high -end smartphones also increased despite strong competition from Apple.

Samsung is still expecting huge demand for storage, RAM and smartphones in Q4 due to holiday season. Demand and Operating profits from all other divisions are also expected to grow.

Source : Samsung Electronics via Bloomberg