Samsung profits from solid sales

Samsung Electronics' revenue in China soared 51 percent annually in 2012 as more Chinese bought its smartphones, tablet computers and home appliances, the South Korea-based firm said Tuesday.

The increasing sales helped the company generate a revenue in China of US$14.3 billion in 2012, Jae-soon Park, Samsung Electronics China's president, said during a conference in Guangzhou yesterday.

In 2012, Samsung sold a total of 30 million smartphones in China, more than doubled the previous year's sales. Samsung said the sales of smartphones, tablets and flat panel display TV sets ranked the top 3 in the domestic market and boosted its revenue.

To keep the momentum Samsung also launched its latest Galaxy Note 8.0 tablet in Guangzhou yesterday, which is seen as a major rival to Apple's iPad Mini, industry insiders said.

Samsung's share of the Chinese smartphone market grew from 12.4 percent to 17.7 percent last year, ranking it as No. 1 in the world's biggest mobile phone market, said US-based research firm Strategy Analytics.