Samsung Electronics has reported a record increase in its quarterly profit boosted mainly by its growing smartphone sales, with a 50 percent jump from a year ago in the April to June quarter.
According to BBC, net profit was 7 billion dollars in the quarter and the launch of new models such as the Galaxy S4 had boosted sale of smartphones during the period.
However, the report said that Samsung warned that the pace of growth of the smartphone business might slow down.
Head of investor relations at Samsung, Robert Yi said that they expected earnings to continue to increase entering into a typically strong season for the IT industry.
The success of its smartphone business has seen Samsung displace Nokia as the world's biggest mobile phone maker and its market share has risen sharply with the company accounting for 96 percent of the Android smartphone sector's profits, the report added.
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