Samsung Electronics Q4 Profit Up 12.6 Per Cent

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.

The company expects the high smartphone demand to boost its net profit through out this year.

Samsung's Android-based Galaxy series smartphones have been setting the market alight since launch, and sales for the company's first ever tablet device, the Galaxy Tab, show no signs of stopping.

The company's mobile and telephony division posted a profit of 1.44 trillion won during the final quarter of 2010, more than the 1.05 trillion posted in the same period in 2009.

Robert Yi, a Samsung vice-president and head of investor relations, said in a statement to The Canadian Press: “In telecommunications, we achieved record high quarterly sales and operating profits as a result of strong sales of Galaxy S as well as Galaxy Tab in developed markets and solid sales of mass market smartphones as well as full-touch phones in emerging markets.”