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Samsung Net Beats Estimates as Phone Sales Surpass Apple

Samsung Electronics Co., the world’s biggest maker of mobile phones, computer-memory chips and TVs, posted its highest profit in at least two years after beating Apple Inc. and Nokia Oyj in smartphone sales.

Net income jumped 81 percent from a year earlier to 5.05 trillion won ($4.4 billion), the Suwon, South Korea-based company said in a statement today, beating the 4.24 trillion-won average of 29 analyst estimates compiled by Bloomberg.