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Samsung Posts Record Quarterly Profit on Phones, Seagate Deal

Samsung Electronics Co., Asia’s largest consumer-electronics company, reported a record quarterly profit on surging sales of Galaxy phones and a one-time gain from selling its hard-disk drive business.

Operating profit increased 73 percent to 5.2 trillion won ($4.5 billion) in the three months that ended in December, the Suwon, South Korea-based company said in a statement today. That beat the 4.6 trillion-won average of 29 analyst estimates compiled by Bloomberg. Sales rose 12 percent to 47 trillion won.