Samsung, the TV and mobile phone giant, has topped estimates with its third-quarter earnings.

The Korean company has posted 91% profit growth to 8.10bn Korean won ($7.3bn), beating the consensus estimate of 7.58bn won.

Revenues rose by 26% from a year earlier, mainly due to the surge in sales of its Galaxy S III mobile phone and its new tablets. The two product lines helped offset the declining earnings in the memory card business. Television sales have also risen.

Total sales reached 52bn won, also beating the consensus estimate of 51.6bn won.

"Smartphone sales were very solid," said Shinhan Investment Corp analyst Kim Young Chan on Bloomberg. "Smartphone shipments have increased significantly, easing concerns about marketing spending eating into profit."

SC

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