Samsung Rises to Record as Smartphones Help Keep Pace With Apple
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Samsung Electronics Co. jumped to a record in Seoul trading after surging smartphone sales boosted profit and helped Asia’s largest consumer-electronics company keep pace with Apple Inc.
Fourth-quarter net income rose 17 percent to 4 trillion won ($3.6 billion), from 3.42 trillion won a year earlier, the Suwon, South Korea-based company said in a statement today. The average of 28 analyst estimates compiled by Bloomberg was 3.99 trillion won. Sales rose 13 percent to 47.3 trillion won, in line with a preliminary estimate announced Jan. 6.