Samsung Electronics back in profit

Samsung Electronics Co returned to profit in the fourth quarter as demand for flat screen televisions and mobile phones helped push sales to a record high, underlining Samsung's rise to the top tier of global technology companies. The company, a major producer of consumer electronics products and components that make them work, earned 3.05 trillion won ($2.64 billion) in the three months ended December 31 on a parent basis, it said in a statement Friday. Samsung does not release a consolidated net profit figure. Samsung said, however, that sales on a consolidated basis — which includes the performance of its overseas and domestic subsidiaries excluding financial businesses — reached a record 136.29 trillion won or nearly $118 billion at Friday's exchange rate.