DecryptedTech

Wednesday07 December 2022

Samsung announced record profits


Reading time is around minutes.
samsung-logo

As expected, Samsung did excellent in the last quarter. They marked record profits of $7.3 billion, and even though there were many speculations that the iPhone 5 launch would ruin their success; obviously that's not what happened. These results are almost as twice as good they were the year before. It looks like the Galaxy S III and other high end Android devices were appreciated by the customers. They didn’t want to say much more on their profits as they will wait until October 26 for full-quarter results.

Samsung shares have jumped 7.2% since the US court ruled that they copied Apple back in August. The company has been told to pay Apple over $1 billion and as expected Samsung will appeal the ruling. Samsung smartphone shipments are estimated at around 58 million, as Galaxy S III makes up around 20 million of those. Samsung did great in the smartphone sector but their chip business is not doing that well. However, things may change when they start to push their Exynos processors into more devices.

samsung

Samsung expects around $25 billion profit by the end of the year and this should bring happiness to their workers as they may get bigger bonuses because of this financial success. Apple is currently enjoying huge demand for their new iPhone 5 and is having real troubles with even keeping it in stock. But the Samsung Galaxy S III won’t give up that easy in this battle of Android an iOS, in fact its sales keep on increasing regardless the new iPhone launch. What could have an impact on Samsung’s profit is Google's decision to break their partnership with Samsung for their Nexus brand, so Samsung will stay in the smartphone battle only with their own devices.

Discuss this in our Forum

Last modified on Saturday, 06 October 2012 18:23

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.