Samsung posts record third-quarter earnings driven by smartphones and chips


Samsung on Thursday released its Q3 2013 earnings report, and as expected, it posted record-breaking profits, even higher than what it estimated earlier this month.

The South Korean company posted 59.08 trillion won (about $55.59 billion) of revenue, along with a consolidated operating profit of 10.16 trillion won, or a whopping $9.56 billion. That’s 7 percent higher than Q2, and 26 percent higher than last year.

These record-breaking numbers were driven largely by smartphone and chipset sales. And while some of this is thanks to high-profile, high-end handsets like the Galaxy S 4 and Galaxy Note 3, those sales remained mostly similar to the previous quarter. Instead, increased sales of lower-cost, mass-market phones are what really helped to drive profits up.

On top of that, Samsung reported its best earnings performance in three years for its chip business, as Samsung chips begin to appear in more and more smartphones.

Samsung expects steady earnings growth in Q4, fueled in part by the increased holiday demand for smartphones and tablets.

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