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Galaxy Smartphone Sales to Help Record Profit For Samsung

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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