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Smartphones boost Samsung profits

in International Business

Smartphones boost Samsung profits

Samsung profits are to surge 79% in the second quarter as sales of its smartphones continue to grow, with Galaxy S III shipments estimated to reach 19 million unts in the third quarter.

Anaylysts said its profits may rise even further in the coming months.

With the widely-expecte launch of the latest version of the Apple iPhone, some anaylysts were of the view that Samsung’s sales may slow towards the end of the year.

“We expect a correction in Samsung’s earnings in the fourth quarter, as the launch of the new iPhone will lead to a decline in Samsung’s profit in the high-end smartphone business,” said Park Jong-Min a fund manager with ING Investment Management.

Apple is the biggest rival to Samsung’s smartphones.

I n addition, the two are also involved in various disputes over patnet infringements.

Sales of Samsung’s Galaxy Nexus and its Galaxy Tab 10.1 are banned by a court in the US.

There are concerns that the ban may hurt Samsung’s sales in one of its key markets.

Analysts said the biggest fear for Samsung is that the dispute may become bigger and impact other Samsung products, including the Galaxy S III.

It is the legal spill over effects that Samsung is worried about.

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iPhonesamsungsamsung sales

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