Samsung makes business history

Samsung Electronics exceeded 10 trillion won ($9.35 billion) in operating profit in the third quarter, the first time a Korean company has done so, despite the company’s concern over a fast-maturing global smartphone market and sluggish sales of home appliances, especially high-end TVs.

Solid performance in the IT and mobile communications (IM) sector, in particular in low-end mobile phone markets, is widely credited with helping Samsung beat expectations.

In the guidance released yesterday, the tech giant said it recorded 10.1 trillion won in operating profit for the quarter ending Sept. 30, an increase of 5.98 percent from the previous quarter and 25.3 percent year-on-year. Samsung’s second-quarter performance had been a company record.

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