Looks like Apple isn’t the only one making it rain stacks of cash. A day after Apple announced giant profits and revenues, Samsung is doing the same – showing a gigantic $8 billion profit in the 4th quarter of 2012. The reason: the incredible sales of the Galaxy S3 smartphone and the Galaxy Note 2 smartphablet. The profit alone represents a 10% quarter over quarter growth for Samsung’s mobile products division. Include the fact that Sammy is now shipping more smartphones than Apple and Nokia combined, its no wonder the company is enjoying record success.
Samsung’s profits are pre-tax profits, but the post tax profit of over $7 billion is still large numbers. See the chart below for the full income statement…pretty impressive any way you slice it.
|Chart courtesy of Droid-Life|
*Source: Droid-Life, BGR