Electronics giant Samsung has reaped record profits for the sixth straight quarter – 7.77trn won – but shares fell upon the release of the South Korean company’s second-quarter 2013 financial results, as investors expected a higher profit of 7.96trn won.
Samsung’s revenue for the second quarter of 2013 totalled 57.46trn won, and along with the 7.77trn won in profits reflects a profit gain of about 50pc year-on-year.
Mobile is Samsung Electronic’s largest sector, and sales revenue there increased 9pc quarter on quarter. Operating profit in the sector, however, dropped 3pc quarter-on-quarter, which Samsung has attributed to “marketing costs”.
Samsung sold 10m units of its flagship Galaxy S4 smartphone during its first month on sale.
The company said it intends to spend a record 24trn won this year on its mobile, semiconductor and display panel businesses in an effort to maintain momentum and strengthen its market position.