Apple, Samsung report $15.6B in quarterly profit

Oct 26, 2012, 2:54 AM EDT

Samsung Electronics posted a fourth straight record quarterly profit, $7.4 billion, with strong sales of its Galaxy range of phones masking sharply lower sales of memory chips. The record run, though, is likely to end in December, with profit growth slowing even more next year as TV markets stagnate and growth in high-end smartphones eases from the recent breakneck speed. Apple's fiscal fourth-quarter profit, at $8.2 billion, was just shy of analysts' expectations and iPad sales fell short of Wall Street targets. But the company's sales forecast for the critical holiday season, at $52 billion, was more than 5% below analysts' estimates.