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October 5, 2012

Stronger smartphone sales to drive Samsung’s Q3 profit to $7.3bn

The company is scheduled to report full earnings officially on 26 October 2012.

By CBR Staff Writer

South Korea based Samsung Electronics expects to post an operating profit between $7.1bn and $7.5bn for the third quarter of 2012, compared to $3.8bn a year earlier driven by strong sales of its Galaxy smartphones.

Sales for the quarter are anticipated to be between $46bn and $47.7bn.

The company posted a 21% jump in revenue to $41.6bn for the second quarter of this year led by sales of its high-end smartphones.

Earlier in September 2102, Samsung said that sales of the Galaxy S III crossed 20 million units in the 100 days since its launch in May this year.

The launch of new smartphones running on Microsoft’s new Windows operating system is also expected to increase Samsung’s semiconductor business with higher sales of mobile chips.

The strong performance for the latest quarter came despite the fact that Samsung was ordered to pay $1.05bn in damages to Apple after Apple accused Samsung of violating several of its patents.

Recently, a US court lifted a temporary sales ban against Samsung’s Galaxy Tab 10.1 tablet won by Apple in a patent dispute in June this year.

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Samsung Electronics has escalated its patent war against Apple by claiming that its new iPhone 5 infringes eight of Samsung’s patents associated with implementation of LTE technology.

The company is scheduled to report full earnings officially on 26 October 2012.

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