Samsung profits double year-on-year thanks to Galaxy S3

Another strong showing from the Korean firm

Samsung has posted another successful quarter of earnings, as the Korean firm reveals profits have almost doubled since last year.

The electronics manufacturer revealed it had generated $47.5 billion (around £29.5 billion/AU$46 billion) in revenue during the third quarter of 2012, with an operating profit of $7.4 billion (around £4.6 billion/AU$7.2 billion) and a net profit of $5.97 billion (around £3.7 billion/AU$5.8 billion).

It notes that the profit represents a 91 per cent increase on earnings during the same period in 2011, which is sure to thrill Samsung's bosses and investors alike.

Mobiles lead the way

The company says its smartphone business has played a large part in its huge profit gain this year, with the likes of the Samsung Galaxy S3 proving very popular around the world, with the mobile division accounting for almost half of Samsung's total revenue.

Samsung also highlighted its Organic Light-Emitting Diode (OLED) and Liquid Crystal Display panels as contributing factors to its strong financial results, with the displays appearing in a variety of smartphones, tablets and TVs.

For the final quarter of the year Samsung predicts strong sales in the tablet PC market, plus the impending holiday season will boost demand for technology, however it expects its PC memory sector to witness a weak quarter as demand diminishes.


Phones and Tablets Deputy Editor

John (Twitter, Google+) got his first phone aged 12 and since then he's been fixated on all things mobile, churning his way through a multitude of handsets, tablets and operating systems. Signalling his arrival at TechRadar by becoming a Guinness World Record holder in his first week (for the highest score on Super Mario Bros using a giant controller), John hasn't looked back since.