Samsung Posts Record Q4 Profits

    FILE - A visitor passes by the logo of Samsung Electronics Co. at a showroom of its headquarters in Seoul, South Korea, in this Oct. 7, 2011 file photo. Samsung Electronics Co. will buy all of Sony's shares in the joint venture for about 1.08 trillion Korean won ($935 million) subject to a final agreement Sony Corp. said Monday Dec. 26, 2011. The joint venture called S-LCD was set up in 2004. (AP Photo/Lee Jin-man, File)

    Lee Jin-man / AP Photo

    Samsung Electronics announced record profits in the fourth quarter Friday, on the strength of best-ever sales of its high-end smartphones. It posted $4.5 billion in operating profit from October to December 2011. The South Korean firm surged past Apple as the top smartphone maker in the world earlier this year and is doing well while competitors like HTC, Nokia, and BlackBerry are struggling.

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