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Samsung Announces Record Profits

  • Samsung Electronics announced a record profit of $6.6 billion in the last quarter of 2012. This marks a 76% increase from last quarter of 2011. The world's largest maker of smartphones, however said that it is likely people will buy lesser smartphones in 2013. This statement caused Samsung's share price to decline by about 2% in Seoul. In a statement Samsung said, "The furious growth spurt seen in the global smartphone market last year is expected to be pacified by intensifying price competition compounded by a slew of new products"

    Samsung is headquartered in South Korea.Explore the locations through South Korea map