Samsung Q2 Net Profit Rises To $4.4 Billion

Samsung Electronics Co, the world's largest maker of mobile phones, reported a second quarter net income of 5.19 trillion won ($4.4 billion), up from 3.51 trillion won in the same period earlier year, aided by sales of Galaxy smartphones.

The company reported that the operating profit for the April-June quarter was 6.72 trillion won, which is up 79 percent from that in the same period last year. Samsung also forecast that the demand for handsets would increase in the next quarter, especially from the emerging markets. However, it stressed that the faltering economic condition in the euro zone could affect the demand in Europe.

The company announced an interim dividend of 500 won per share. On Friday, shares of Samsung were up 4.95 percent at 1,230,000 won. This year, the shares of Samsung climbed 16 percent.

Earlier this year, Samsung Electronics overtook Nokia to become the world's largest maker of mobile phones, IDC reported. In the first quarter of 2012, Samsung shipped 93 million phones while Nokia sold only 83 million devices.