Samsung lifted by Galaxy sales

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IOL pic july27 samsung galaxy profits Reuters A man tests Samsung Electronics' new Galaxy S3 smartphone at a store in Seoul.

Seoul - Samsung Electronics said its second quarter profit rose 48 percent over a year earlier as customers flocked to get Galaxy smartphones in the absence of competitors.

The South Korean firm said on Friday that its net profit reached 5.2-trillion won ($4.5-billion) in the April-June quarter on revenue of 47.6-trillion won.

The earnings figure was a three-percent rise from the previous quarter, but was lower than a market consensus of 5.6-trillion won.

Samsung said its operating profit reached 6.7-trillion won, matching its guidance earlier this month.

Samsung said its mobile business that makes the Galaxy S3 smartphone was responsible for more than 60 percent of its operating profit, helping the firm outdo rivals even at one of the most challenging times for the global tech industry. - Sapa-AP

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