It isn’t just Microsoft and Apple that have notched up record revenue results for a financial quarter. Samsung Electronics has announced revenues of 40.23 trillion Korean won (approx. R251.9 billion) for the Q3 2010 that ended on 30 September 2010, which is a 12% year-on-year increase for the company.

 

This figure tops the previous record for quarterly revenue of 39.25 trillion won (about R245.7 billion) recorded in Q4 2009. The Korean company’s consolidated net income for the quarter was 4.46 trillion won (around R27.9 billion), which is a 17% year-on-year increase. Its consolidated operating profit for the quarter stands at 4.86 trillion won (approx. R30.4 billion).

 

“In the third quarter, Samsung faced a challenging business environment including declining demand for PCs and TVs, along with a continued economic slowdown in developed markets such as US and Europe,” said Robert Yi, vice president and head of Samsung Electronics’ Investor Relations Team.

 

“Despite this, we achieved strong revenue growth and profitability, which was built upon our cost competitiveness in memory semiconductors and increased sales of cutting-edge products such as our latest smartphones.”

 

The company’s increased profitability within Q3 2010 came on the back of a strong performance by its Semiconductor Business, which recorded an operating profit of 3.42 trillion won (around R21.4 billion). Its Mobile Communications Business also achieved solid growth due to increased sales of popular smartphones like the Samsung Galaxy S. Samsung foresees its Q4 revenue being driven by year-end demand for TV sets as well as smartphones.