Samsung has estimated record profits in the three months to September, which will be spearheaded by the solid commercial performance of its flagship Galaxy smartphones.
The South Korean conglomerate said they expect operating profits of 8.1 trillion won, which equates to $7.3 billion. That's nearly double the profit the firm reported last year.
Due to the estimates besting analyst expectations, Samsung shares have since increased by 1.5 percent.
"Stronger than expected sales of Galaxy S3 and high-end television models appear to have propelled strong earnings growth in the third quarter," said Lee Sun-Tae, from NH Investment & Securities.
While it is due to pay $1 billion to Apple in damages over its pre-iPhone 5 court defeat (or not), the legal loss still hasn't hurt Samsung's Galaxy S3 sales; in fact, it's actually experienced considerable increases in sales since August.
As for sales figures for the Samsung Galaxy S3, the smartphone sold 20 million units a 100 days after its launch. Samsung has said it expects the device to sell a further 10 million units during 2012.
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Zak Islam is a freelance writer focusing on security, networking, and general computing. His work also appears at Digital Trends and Tom's Guide.
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luciferano Some companies can stand up against Apple's bullying and not only that, but thrive on it. Nice going, Apple. You wanted to diminish competition, but your despicable tactics have been counter-productive.Reply -
fudoka711 luciferanoSome companies can stand up against Apple's bullying and not only that, but thrive on it. Nice going, Apple. You wanted to diminish competition, but your despicable tactics have been counter-productive.Reply
Exactly. I bet Apple didn't expect that epically long (and still ongoing?) court battle to actually benefit Samsung. -
jhansonxi Record-breaking judgements in copycat lawsuits seem to be a good way to publicize a product's similar feature set.Reply -
dimar If only Samsung could use tiny bits of those profits to keep-up the older Android phones with latest Android versions...Reply -
clubsaucekiller Apple made almost 4 times more profit than this last year. Too bad Samesung can't copy profits.Reply -
Kami3k dimarIf only Samsung could use tiny bits of those profits to keep-up the older Android phones with latest Android versions...Reply
Large parts of that have to be blamed on the phone service providers. A lot want their own crap installed and what not.
At least in the US. Don't know how it is in Europe or anywhere else.
I'll bet if service providers didn't each want their own version we would see more updates. -
varun270588 clubsaucekillerApple made almost 4 times more profit than this last year. Too bad Samesung can't copy profits.Reply
yah u yourself admitted that apple makes 4 times more profit u isheep..
garbadge + shiny cover +rotten apple+bunch of isheep ... boom 4 time more profit
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wedouglas clubsaucekillerApple made almost 4 times more profit than this last year. Too bad Samesung can't copy profits.Reply
Not in one quarter, retard.