Samsung revenues and profits soar

Samsung has reported that its quarterly earnings have soared, thanks to record sales of the Galaxy line of smartphones. In the end, Samsung’s profit has gone up by 76% year over year, and up 25% quarter to quarter. Both figures are impressive, and show that, as the only company that can clearly stand up to Apple, Samsung has benefited from the explosive growth of mobile devices.

In the end, Samsung reported a $4.7B profit for the fourth quarter and vowed to increase its R&D expenses by 9% to continue advancing its products at a rapid pace. It is not clear whether Samsung can retain its “top smartphone manufacturer” title from the previous quarter as Apple has announced a surge in iPhone sales, but with the Samsung Galaxy S3 just around the corner, the year 2012 is probably going to be a busy one for Samsung.