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Samsung posts record profit thanks to strong Galaxy S III sales

Yewon Kang | Oct. 29, 2012
Samsung Electronics said Friday that net profit nearly doubled in the third quarter on strong sales of its Galaxy S III and Note 2, which also boosted results in its component business.

The company still owes $1 billion in legal damages to Apple after a California court ruled it infringed the iPhone makers patents. The rulings won't have a significant impact on Samsung's handset sales since it has worked around the technology in its high-end line-ups in the U.S., Ahn said.

Samsung has appealed the ruling in the U.S. and a final ruling is scheduled for December.

 

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