News Summary: Samsung posts record-high 4Q profit

News Summary: Galaxy phone sales lift Samsung to record-high 4Q profit

Associated Press

MOBILE MANIA: Samsung Electronics Co. expects record profit in the fourth quarter on strong demand for its Galaxy smartphones and tablets.

THE NUMBERS: The company, based in South Korea, expects operating profit for the October-December quarter of $8.3 billion, up 89 percent from the year before. It predicts revenue grew 18 percent.

LEADER OF THE PACK: Samsung's mobile business, which recently overtook Apple in smartphone sales and Nokia in mobile handsets, has driven Samsung's earnings growth in recent quarters.

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