Samsung has today announced its financial results for the fourth quarter of 2012, which slightly exceed the estimations that were set by the Korean company earlier this month. It recorded an operating profit of 8.84 trillion won (approx. $8.27 billion) during the three-month period, on 56.06 trillion won (approx. $54.45 billion) in revenue. That’s a 10% increase in profit over the previous quarter, and a whopping 89.3% increase in profit over the fourth quarter of 2011.
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Samsung has surpassed Apple as the world’s biggest buyer of semiconductors, according to Gartner. The Korean company’s hugely popular smartphones, such as the Galaxy S III and the Galaxy Note II, led to a 29% surge in chip purchases in 2012, taking its semiconductor spending past that of any other company.