Thanks Galaxy: Korean giant set to report record profit in its latest quarter, powered by the successs of its Galaxys.
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Samsung estimates operating protit will be 6.5 trillion – 6.9 trillion won (or around $5.9bn) it said Friday, as it rides high on the success of its Galaxy smartphones.
This correlates with estimates of 23 market analysts as indicated to Reuters, who believe the tech powerhouse will once again see record profit quarterly growth.
Samsung estimates revenue for the latest quarter will be between 46 – 48 trillion won.
The record US$5.9 bn operating profit figure for April – June quarter will mark a massive 79% rise from a year ago.
The news comes as Samsung is now the No. 1 phone maker in the world recently knocking rival Nokia off its perch.
This comes as the Korean giant released its stunning 4.8″ AMOLED Galaxy S III smartphone on Android 4.0 in May last – the device flagged as what Apple’s iPhone needs to beat later this year.
The tech giant’s line of Galaxy smartphones is reported to be driving the record profits and has previously admitted a large part – 73% of its revenues now comes from mobile business – despite the fact it manufactures everything from LCD TVs to fridges to washing machines.
However, it’s not all roses for Samsung who are said to be worried about the falling euro and have developed a contingency plan should issues develop further in what is its biggest consumer electronics market.
Last month, Samsung senior execs said they expect to sell a massive 10 million SIIIs by July and is now one of the most pre-ordered technology devices ever – outstripping even the iPhone in some regions.
The Korean giant is thought to have sold a massive 90 million devices in Q1 this year, but doesn’t release precise figures.
In Q1 2012, Samsung reported a net profit of 5.05 trillion won (US$4.5 bn) for the first three months to March end – a massive 81% lift.
The company will report its quarter earnings later this month.
Analyst comsCore estimates Samsung now has around 25% of the critical US market, while Apple is on 15% as both companies still battle it out in court around the world over mobile patents.
