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Samsung sees a strong quarter, thanks to their GALAXY S III smartphone

Samsung has a great quarter, all thanks to their GALAXY S III smartphone

| Business, Financial & Legal News | Posted: Jul 6, 2012 7:33 am

Samsung are expected to release their financial results for the latest quarter later on in the month, but the company is expecting to post a near-$6 billion profit. This quarterly profit can be attributed to the great sales of their GALAXY S III smartphone.

 

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Executives within Samsung are still anxious about the rumblings in the euro zone, where debt concerns could threaten Samsung's sales successes. Analysts are pegging Samsung's April-June operating profit to surge 77-percent to $5.9 billion from the same quarter a year ago. Comparing this quarter to the January-March quarter, this is a nice 14-percent increase, which previously held the quarterly profit record.

 

Samsung's mobile division has been the strongest part of this, driving most of the profits. With profits doubling year-over-year on the sale of around 50 million smartphones. Mobile now accounts for more than 70-percent of Samsung's earnings. Samsung do still have to worry about the European debt crisis, as Europe is Samsung's largest consumer electronics market, so the company fears they may have to cut costs and increases prices if the value of the euro drops.

NEWS SOURCES:Electronista.com

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