Samsung expects to set a new record with a $7.3 billion profit in Q3

Samsung expects to set a new record with a $7.3 billion profit in Q3
Samsung has reported estimated third quarter earnings of $7.3 billion, setting a new record for the Korean based manufacturer. Strong sales of the Samsung Galaxy S III and Samsung GALAXY Note helped Samsung break out the black ink in the quarter. On the other hand, Apple ordered fewer chips and screens from its rival, having a negative effect on the numbers. In addition, Samsung spent a whopping $2.7 billion in the three month period on marketing, estimated Credit Suisse, with the company taking advantage of promotional tie-ins with the London Olympics.

The Samsung Galaxy S III helped Samsung set a new quarterly earnings record

The Samsung Galaxy S III helped Samsung set a new quarterly earnings record

206,000 employees of the company will receive a cash bonus triggered by the $25 billion profit that Samsung will post for the year. There is also the matter of the $1.05 billion that a jury in U.S. District Court awarded Apple after ruling that  Samsung had infringed on several Apple patents. The award could be tripled by Judge Lucy Koh following a December 6th hearing. Samsung on Thursday filed for a new trial claiming bias on the part of the jury foreman.

Concentrating on mobile, Samsung shipped 58 million smartphones, 20 million of which were the latest and greatest Samsung Galaxy S III model. Another well received models was the Samsung GALAXY Note. The sequel to the phablet, the Samsung GALAXY Note II will be introduced later this month in the states and is expected to at least double the sales of the original model, reaching 20 million units sold. Profits in the mobile division doubled to 5 trillion won ($4.5 billion USD) in the July-September period, accounting for two-thirds of group profits. Revenue for the quarter is expected to be reported as 52 trillion won ($46.8 billion USD).

Earnings will be officially released on October 26th. Analysts are expecting strong fourth quarter numbers. Citigroup's Henry Kim expects a strong October-December period although he sees the profit margin on the telecommunications sector dropping 5% to 15% because of higher spending on marketing.

source: Reuters

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17 Comments

1. Jusrertiner

Posts: 7; Member since: Sep 16, 2012

Samsung expects to make money.

2. someones4

Posts: 627; Member since: Sep 16, 2012

i like this. The king of mobile. Nothing less is expected from the tenth largest company in the world.http://en.wikipedia.org/wiki/List_of_companies_by_revenue

5. Target

Posts: 3; Member since: Oct 05, 2012

Earnings made ONLY possible because of Apples ideas

7. chaoticrazor

Posts: 2347; Member since: Aug 28, 2012

apple has never had an original idea, they steal existing idea's and claim them as there's

9. anywherehome

Posts: 971; Member since: Dec 13, 2011

Nicely brainwased

12. AstronautJones

Posts: 305; Member since: Aug 01, 2012

Yeah, because the Galaxy SIII and Note look so much like the iPhone, right? Geesh, give me a break....

13. jironda

Posts: 4; Member since: Sep 25, 2012

Of course they do look alike!!! They have rounded corners, which Apple invented!! :)

16. jroc74

Posts: 6023; Member since: Dec 30, 2010

Yea.....I wanted a Samsung phone so bad because of bounce back effect, round corners and a couple of icons. :/ As far as looking like one....really look at the entire iPhone and a Samsung Galaxy S phone. They really dont look alike. Stop believing everything you read on the web.

3. MeoCao unregistered

SS must thank Apple for the GS3 sales boost it got after the verdict and iPhone 5 launch. SS must think it can't have enough suing from Apple LOL.

4. MrJerry

Posts: 403; Member since: Oct 05, 2012

This article indicates that Samsung made less profit than Apple even though they sold much more handsets...and many ppl may think Apple is better based on this but the way I see is that Apple is freaking expensive making a lot of magins without proper returns. For example Iphone 4s 16GB was $849 AUD in Sydney Apple store when it came out and like 2 months ago the price was still $800 and yet many people still can't see the problem here..

6. Shino

Posts: 196; Member since: Jul 23, 2012

Nice, but there is a ''small'' detail missed here: Their profit will be 7 - 1 = 6bln. And if they lose the next trial(which they probably will) Number will go even further underwater:)

8. chaoticrazor

Posts: 2347; Member since: Aug 28, 2012

mate can you hear me ....its just your so up apple your missing reality apple the masters of stealing then convincing people like you they were the first.....funny thing is you believe them without question. anything apple say you accept.

14. Aeires unregistered

Your comment = nobody cares.

17. jroc74

Posts: 6023; Member since: Dec 30, 2010

Nothings final yet. I take it you are assuming n guessing.....

10. SamsungFan

Posts: 201; Member since: Apr 16, 2012

IPhone s**k

11. someones4

Posts: 627; Member since: Sep 16, 2012

Apparently, samsung may get the apple verdict overturned. More resources for them to gain control.

15. droidspd

Posts: 15; Member since: Sep 25, 2012

Well done Samsung!!!

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