Samsung’s profits jump

South Korean manufacturer Samsung Electronics Co said Friday net profits were up by 48 per cent in the second quarter year-on-year, thanks to strong sales of smartphones. The maker of the Galaxy series of smartphones and tablet computers made net profits of 5.2 trillion won (4.5 billion dollars) in April to June, compared with 3.5 trillion won a year earlier. Sales were up 21 per cent to a record high of 47.6 trillion won in the period, with operating profit showing a 79-pet-cent increase at 6.7 trillion won, in line with the company’s forecast. The Galaxy S III smartphone has sold more than 10 million units since it was released in May.