Samsung shares slip as company boasts record sales

<p>Shares in Samsung have slipped as the company boasts record sales for the third quarter.</p>

Samsung's shares have slipped on the Frankfurt Stock Exchange this morning (October 26th) after the company announced that it has enjoyed record sales.

Over the course of the third quarter of the year the technology giant sold 56.3 million smartphones, including its popular Galaxy S III, representing nearly one-third (31.3 per cent) of the global market.

This is more than twice the 15 per cent share belonging to Apple, Samsung's biggest rival.

The South Korean business stated its communications operations took in 26.25 trillion won (£14.8 billion) in the third quarter, accounting for more than half the company's total.

Senior vice-president Robert Yi remarked: "The business environment remained difficult … however, we continued to break our quarterly profit records."

At 09:15 BST, Samsung's shares were lower by 1.5 per cent to €456.50 apiece, but the firm has not yet fallen too far from its 52-week high of €483.20, which is achieved in August.

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