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Samsung ranks No. 5 in global IT sector by market cap
SEOUL, Dec. 27 (Yonhap) -- Samsung Electronics Co., South Korea's tech behemoth, was the fifth most valuable firm among its global peers in terms of market capitalization, data showed Tuesday.

   The total market cap of the world's second-largest mobile phone maker stood at US$136.9 billion as of Dec. 23, only trailing behind Apple Inc., Microsoft Corp., IBM Corp., and Google Inc., the four biggest IT firms in the world, according to the data compiled by local financial sources.

   Samsung's market cap surpassed that of the world's No. 2 software firm Oracle Corp. by $5.9 billion. Oracle's market cap was $30 billion bigger than Samsung's at the end of last year.

   Samsung also outstripped Intel Corp. by $12 billion, widening its distance from the world's No. 1 chipmaker from $6 billion a year earlier.

   Samsung Electronics' rise in market cap came on the back of brisk growth in its smartphone business and strong earnings. Its net profit reached the forecast-beating 3.44 trillion won (US$3.09 billion) in the third quarter of the year and it is expecting a record high operating profit of nearly 20 trillion won for 2012.

   Its stock price has settled above the 1,000,000-won mark since Nov. 29. It finished at 1,066,000 per share on Monday.

   Meanwhile, South Korea's top automaker Hyundai Motor also saw its market cap rise 20 percent to $41.2 billion, ranking fifth in the world ahead of General Motors Co. of the U.S.

   Top steelmaker POSCO has remained the top cap in the global steel industry after beating the world's No. 1 ArcelorMittal in August, according to the data.

   elly@yna.co.kr
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