Samsung's Profits for Q3 2011 Take a Dip

Tweet

Samsung posted its third quarter profits for 2011, and it seems the South Korean company’s profits are down for the quarter. Overall, the company reports a 13% fall in quarterly profits in spite of its handset division’s stellar performance.

According to the results Samsung posted, the operating profits of its handset division has doubled since Q3 of 2010 at an amazing record high of $2.3 billion. This is all thanks to Samsung’s flagship Galaxy handsets powered by Google Android. Unfortunately, what its handset division pulled in can’t make up what the company’s chip division lost.

Samsung is the sole remaining profitable chip maker in the world, with its competitors in the red for the quarter. But even Samsung has reported that its chip division profits are halved from last year’s, signifying bad news for the industry. The company’s TV division also dropped by 3% this year, but not significant enough to compare to what its chip division is going through.