Samsung’s profit at $8.3 bn
Reuters : Seoul, Thu Jan 10 2013, 00:39 hrs
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Samsung Electronics, the world leader in mobiles and memory chips, said it likely earned a quarterly profit of $8.3 billion, as it sold close to 500 handsets a minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.
That run of five straight record quarters may end in January-March on weaker seasonal demand, though a strong pipeline of smartphones — the group's biggest earner — and improving chip prices have eased concerns that earnings growth could slow this year, powering Samsung shares to record levels last week. The stock closed down 1.3 percent on Tuesday, in a Seoul market that fell 0.7 per cent.
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