Samsung posts record profits on Galaxy phone sales
In the three months to September, Samsung Electronics reported record profits led by strong sales of its Galaxy range of smartphones.
The South Korean phone maker's profits were also boosted by a demand for its display panels.
Net profit for Samsung was 6.5tn won ($5.9bn; £3.7bn), up 91% from a year earlier.
These reports come just after quarterly profits from Apple – the company’s biggest rivals in the phone and tablet market – disappointing some investors.
Samsung has had success with its Galaxy range of smartphones, though now other manufacturers have been releasing new models to compete.
Samsung expects market competition to intensify but "we will do our best to sustain our earnings momentum throughout the fourth quarter by implementing strategies we have developed for our businesses", said Robert Yi, head of investor relations.
"The business environment remained difficult with global economic uncertainties persisting amid the fiscal concerns in the US and Europe.
"However, we continued to break our quarterly profit records," Mr Yi added.
Samsung's success in the smartphone and tablet PC sectors has been accompanied by legal tussles with its biggest rival, Apple.
Analysts said that while the cases seemed to have had little impact on Samsung's growth, it has raised concerns about how they may affect it in the future.
"Uncertainty remains about its patent lawsuits with Apple, which weighs on its shares," said Eon Nam-Joong, of Consus Asset Management.
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