Samsung profits rise after Galaxy S4 launch

Samsung's second-quarter operating profit for 2013 increased by 47.5% year-on-year, the company has announced.

The Galaxy S4 manufacturer made ?5.5 billion (net profit of ?4.5 billion) in the three months up to June, in line with its own estimates.

? Getty Images / Allison Joyce

The Samsung Galaxy S4 handset on display

Earnings at its mobile division, which accounts for two-thirds of revenue, rose 52% to ?3.6 billion, but fell 3.5% from the previous quarter.

The reporting period included the launch of Samsung's flagship smartphone the Galaxy S4, which sold around ten million units in its first month on sale.

Samsung predicted that smartphone sales will continue to be slower in the third quarter of the year.

"Entering into a typically strong season for the IT industry, we expect earnings to continue to increase," said Samsung head of investor relations Robert Yi in a statement.

"However, we cannot overlook delayed economic recovery in Europe and risks from increased competition for smartphone and other set products."

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