Rising sales, but Samsung's worst quarter since 2003

Samsung has recorded its lowest quarterly results since 2003, with the company's Q3 net income plunging 44%.

The company earned $924 million in profit for the quarter, despite a 22% increase in sales on a year-on-year basis.

Samsung shipped 51.8 million phones in Q3, a 13% increase over the Q2 results. But ASP dropped $7 compared to Q2, to reach $135.

The handset arm's operating profit margin fell to 9.5%, down from 12.8% a year ago.

The results nevertheless beat market analysts' expectations, and Samsung is reportedly on-track to meet its yearly sales target of 200 million units.

Samsung, meanwhile, last week launched a Symbian developer site designed to make it easier to create Symbian applications.

To celebrate the launch, the first 300 Symbian S60 applications will be certified for free.