Samsung reports £17 billion profit for 2012


Samsung’s board of directors announced total profit for 2012 and its ambitions for 2013 at a meeting in Seoul today

Samsung has reported total operating profit of 29 trillion Korean won (£17 billion) for 2012.

The Korean manufacturer also said consolidated revenue for the full year reached 201 trillion won (£119 billion).

Samsung vice chairman and CEO Oh-Hyun Kwon said that despite “rapid changes” in the business environment last year, the company managed to strengthen its leadership in the industry.

The statements were issued at a meeting of its board of directors, who also took the opportunity to set out Samsung’s ambitions for 2013.

The manufacturer will establish a corporate social responsibility (CSR) committee too fulfil its social responsibilities, it said.

“The company will also strengthen the foundation of emerging business areas, including medical devices, and rapidly develop its B2B competencies. The focus on the development of distinctive competencies in soft competitiveness, branding, and intellectual property, will continue,” a statement on the meeting said.

“The company has drawn up plans to maintain its lead over competitors in key business areas, including the mobile phone, TV, and memory businesses.”

“Samsung Electronics will continue to make efforts to solidify its reputation among consumers and gain wider acceptance in society as a trusted and admired company.”

Samsung’s results have in-part being driven by record smartphone sales, that have seen more than 40 million Galaxy S III devices (pictured) sold worldwide since going on sale last May.