Samsung Electronics, the world’s biggest consumer electronics group by sales, on Friday reported all-time-high quarterly profits for the October to December period despite the slowing global economy.

The South Korean group assessed its operating profit at approximately Won5.2trn or $4.5bn, the company said in a statement.

Up 73 percent, profits were mainly boosted by the company’s record smartphone sales and the once-off gains from the sale of its hard disk drive business to Seagate Technology.

The group said operating profit may be Won200bn higher or lower than Friday’s preliminary estimate when audited results are announced later this month.