Huge demand for mobile phones has aided South Korea's Samsung Electronics to a strong fourth quarter profit. Net gain was 3.42 trillion won ($3.1bn; £1.9bn) compared with 3.04tn won within the same quarter last year. Even so, the data was down from the 3rdquarter, when profits had strike 4.46tn won because of higher sales of flat screen TVs.
Growth in the smartphone sector is anticipated to aid the company to increase profits this year. Samsung hopes that interest in its Galaxy range of smartphones and tablet devices will help it to counterbalance the slowdown within the sale of memory chips and flatscreen TVs.
Earnings for Samsung's mobile and telephony segment had been 1.44tn won in the 4th quarter, against 1.05tn won within the 4th quarter of year 2009. "Samsung is moving in the correct direction into smartphones and tablets. Rising competition can be a worry but the pie is also growing," Cha Kyung-jin fund manager with Golden Bridge Asset Management recently said.
The weaker worth of the won has aided Samsung Electronics, the earth's greatest technologies organization by sales; contend with Japanese rivals like Sony. Even so, there are concerns that the currency might well bounce back in year 2011 and upset South Korean exporters. Samsung is one of South Korea's largest organization conglomerates - or chaebol - with interests in areas as varied as memory chips, liquid crystal displays and home appliances.