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Galaxy S III delivers: Samsung enjoys record sales

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(Read caption) A man using a mobile phone walks past a Samsung advertisement in Seoul this week. Samsung Electronics reported quarterly profit of $7.3 billion on Friday.

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Samsung Electronics announced today that it raked in $7.3 billion in operating profits in the third quarter of 2012 – a record for the South Korean tech giant. Samsung attributed approximately two-thirds of that profit to sales of smartphones such as the Samsung Galaxy III, which surpassed even the mighty Apple iPhone in some markets. (Samsung has said it sold a whopping 20 million Galaxy III handsets globally in just over three months.) 

Horizons readers will remember that last quarter, Samsung shipped almost twice as many smartphones globally as Apple – 50 million compared to Apple's 26 million. (In total, 176 million smartphones were shipped in the second quarter of 2012.)


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