Samsung 4Q profit rises 17 pct on phones, panels

[January 28, 2012]  SEOUL, South Korea (AP) -- Samsung Electronics Co.'s quarterly profit rose 17 percent from a year earlier on the strength of sales in smartphones and flat panels.

Samsung said Friday in a regulatory filing that its net profit reached 4 trillion won ($3.5 billion) in the three months that ended in December. The company earned 3.4 trillion won a year earlier.

The Suwon, South Korea-based company said its operating profit jumped 75.8 percent to 5.3 trillion won in the same quarter. The figure was closely in line with the company's estimate last month of a 73 percent rise.

Samsung, the world's biggest manufacturer of memory chips and liquid crystal displays, said demand for semiconductors in mobile products and servers remained solid despite weaknesses in personal computers.

The company also said it was able to consolidate its profit in smartphones and flat television sales, noting its efforts to expand electronics parts businesses to secure future growth potential.

[Associated Press]

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