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News@5: Samsung Q4 Profits Up 12.6 Per Cent, Google's Schmidt Targets China & Sony NGP

High smartphone demand has helped Samsung Electronics to post strong fourth quarter results. The South Korean firm reported a net profit of 3.42 trillion won ($3.1 billion), up 12.6 per cent from the 3.04 trillion won announced for the same period in 2009.

Outgoing Google CEO Eric Schmidt has voiced his intentions to expand the search giant's presence in China, the single largest Internet market in the world.

A top Sony Computer Entertainment executive has said that the price for its newly unveiled Next Generation Portable (NGP) hand held console will reflect its "proper value". According to Game Informer, Shu Yoshida, the president of SCE worldwide studios, said that pricing has always been a key factor while launching a new PlayStation device.

LinkedIn is to float its social network on the New York stock exchange, launching an Initial Public Offering (IPO) of up to $175 million. The company was founded in 2002 by former PayPal exec Reid Hoffman and a number of other founding members of the online payment service. The site now has 90 million users and will be the first social network to be publicly listed on the New York stock exchange.

WikiLeaks-alike OpenLeaks has been forced into a premature launch after the website was leaked on Cryptome. New whislte-blowing site OpenLeaks, which went live on Thursday, is run by Daniel Domscheit-Berg, Julian Assange's former No.2 at WikiLeaks and a previous member of German hacker group the Chaos Computer Club.