Samsung reports record profit as Galaxy shipments lead iPhone

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SEOUL — Samsung Electronics, the world’s biggest maker of TVs and mobile phones, reported record profit that beat analysts’ estimates and forecast intensifying competition as the global economy slows.

Net income in the three months ended Sept. 30 rose 91 percent to $6 billion, the Suwon, South Korea-based company said in a statement today.

Operating profit from telecommunications more than doubled as Samsung’s Galaxy devices widened their lead over Apple’s iPhone. Samsung shares dropped amid concern growth in smartphone demand may have peaked after Apple reported earnings that missed estimates and Microsoft Corp. released its Surface tablet, escalating competition for mobile devices.

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