Smartphone sales boost Samsung Q3

The success of Samsung's Galaxy smartphone fuelled a 37% increase in its telecom business in Q3 and helped to offset declining sales at its semiconductor and display panel operations. The results revealed the telecom unit contributed nearly 60% of the vendor's 4.25tn Won (£2.37bn) operating pr

The success of Samsung's Galaxy smartphone fuelled a 37% increase in its telecom business in Q3 and helped to offset declining sales at its semiconductor and display panel operations.

The results revealed the telecom unit contributed nearly 60% of the vendor's 4.25tn Won (£2.37bn) operating profit, the day after market research revealed that Samsung had overtaken Apple in the smartphone market in the third quarter.

Samsung said shipments had increased across all regions and it had experienced "solid volume growth" with the global expansion of Galaxy sales. Despite enhanced price competition, it had managed a slight increase in the average selling price over the Q2.

Looking ahead to Q4, Samsung said it expected a pick up from seasonal demand and year-end promotions and its target was "to sustain strong earning momentum with increased smartphone sales".

The other parts of its business did not fare so well. Semiconductor sales were down 11% and operating profits fell just over 15%. The display panel operation witnessed a 13% drop in sales and a fall in operating profits of just under 8%.

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