Samsung recently announced its financial report for the third quarter of 2013, with revenues reaching 59.08 trillion Korean won (approximately 55.59 billion USD), and profits at 10.16 trillion Korean won (approximately 9.56 billion USD). This result exceeded Samsung's previous expectations and broke previous records.
Samsung's operating profit in the third quarter grew by 7% over the second quarter, and increased by 26% compared to the same period last year. The biggest contributor was undoubtedly smartphones; Samsung CEO J.K. Shin proudly announced that the Galaxy S4, which has been on the market for six months, has already sold 40 million units.
Sales of Samsung's smartphones increased by 10%, which was higher than the 9% predicted by analysts, but still failed to reassure investors. Some analysts believe that the high-end smartphone market is stagnating, making it difficult to increase profitability.
Samsung's semiconductor business experienced significant growth in the third quarter, with an increase of 12%, driven by memory demand from mobile devices and gaming consoles. However, Samsung's display panel business was not as fortunate, as the department's operating profit fell by 12% due to weak demand for TVs and monitors.