November 22, 2012 / 5:07 AM / 5 years ago

Samsung Electronics shares extend gains, hit fresh lifetime high

People use the Galaxy Note II after a news conference announcing Samsung's update to its phone-tablet hybrid in New York, October 24, 2012. REUTERS/Shannon Stapleton

SEOUL (Reuters) - Shares in Samsung Electronics Co Ltd (005930.KS) rose 2.5 percent on Thursday to a new lifetime high of 1.419 million won, propelled by expectations that its mobile business will continue to lead strong profit growth.

The world’s biggest smartphone maker with a market capitalisation of around $205 billion, had previously peaked at 1.418 million won per share in May and has climbed more than 30 percent since its recent low hit in early July.

Reporting by Miyoung Kim; Editing by Matt Driskill

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