Samsung Posts Record Profit of $7.3 Billion Thanks to Galaxy S III

Samsung Posts Record Profit of $7.3 Billion Thanks to Galaxy S III

Miyoung Kim for Reuters writes:

Samsung Electronics reported quarterly profit of $7.3 billion on Friday, a fourth straight record quarter and nearly double last year’s figure, as strong sales of its Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc, the South Korean group’s main rival and leading customer.

Samsung has significantly stepped up its game in the smartphone industry, giving the iPhone some serious competition. That $1 billion settlement that Samsung owes Apple is starting to look like pocket change for the South Korean firm.

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