Samsung tips record-high 4Q profit

Samsung Electronics Co., the world's largest technology company by revenue, estimated Tuesday that its operating profit for the last quarter of 2012 nearly doubled to a record high, likely driven by continued smartphone momentum.In its earnings preview, the South Korean firm put median October-December operating income at 8.8 trillion won ($8.3 billion), an 89 percent surge from a year earlier. The figure was also 9 percent higher than the previous record high in the third quarter.The median estimate was slightly higher than the market consensus of 8.7 trillion won, according to Yonhap Infomax.Samsung estimated its fourth-quarter revenue at 56 trillion won, up 18 percent from a year earlier.The company did not elaborate on its quarterly financial results. Samsung will disclose its full earnings including breakdown figures for each business division at the end of this month.Analysts said nearly 70 percent of the operating income for the quarter was likely generated by Samsung's mobile division that makes and sells Galaxy smartphones and tablets.Samsung is swimming in money Click here for full story