Samsung Turns Huge Profit: No Sign of Slowing Down
The economy as a whole may not be inspiring too much celebration lately, but you wouldn't know things were slow looking at Samsung's figures. The company posted a record-high profit of $3.59 billion, compared to $464 million one year ago.
It shipped 64.3 million phones in the quarter, up 40 percent from a year ago yet still remains in second place as the world's largest handset developer (a title held by Nokia).
With these types of profit numbers you would think Samsung might sit back and enjoy the fruits of its labor but the Korean firm has no such intentions. Outlined its plan to aggressively push toward high-end devices, Samsung plans to roll out new models running Bada, its own mobile operating system, on a third of its smartphone this year. Google's versatile Android software would run on another 50 percent but these numbers could change depending on the public's response to Bada.