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Samsung to report record operating earnings of $5.9 billion for second quarter

Posted: , posted by Alan F.

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Samsung to report record operating earnings of $5.9 billion for second quarter
"Europe is our biggest consumer electronics market and we may have to initiate cost cuts and product price increases should the euro fall further from the current level. Our smartphones are flying off the shelves, with some outlets reporting 40-60 percent sales growth, but that's distorting the overall trading outlook which is more challenging due to the weak global economy and a weak euro."-Anonymous Samsung executive
Korean tech giant Samsung is planning on reporting second quarter earnings on July 27th. Many of the products that the company sells are under pressure thanks to a global economy that remains difficult to maneuver. But thanks to continued strength in sales of its Galaxy line of  smartphones, Samsung says it will report  record second quarter operating profits of 6.7 trillion won ($5.9 billion USD). That is an impressive 79% jump over last year's second quarter number and met expectations of 23 analysts.

Strong sales of handsets have enabled that division to double profits while other divisions producing chips, and electronics for consumers, are battling tough times. The recent launch of the Samsung Galaxy S III has been a world wide success with one analyst calling for 19 million units sold in the quarter. The 6.7 trillion won operating profit is 14.5% above the prior record set in the first quarter. Revenue is expected to come in at 47 trillion won ($41.4 billion USD), below forecasts of 50 trillion won.
"Revenue is below our forecast, which suggests price pressure was more severe than had been expected in products such as televisions and home appliances. Earnings will be stronger in the current quarter as sales of the high-end Galaxy S III will increase dramatically and drive the telecom division's earnings to above 5 trillion won."-Nho Geun-chang, analyst at HMC Investment Securities in Seoul
Despite the success of its handset line, Samsung shares have tumbled 15% in the last two months.

source: Reuters

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posted on 05 Jul 2012, 22:50 15

1. AnotherOne (Posts: 15; Member since: 04 Jul 2012)

Great job sammy!

posted on 05 Jul 2012, 23:16 5

6. Droid_X_Doug (Posts: 5993; Member since: 22 Dec 2010)

Any wonder why iApple wants to stop Sammy? Those are sales that could have gone to purchase iDevices had Sammy not been poaching in iApple's turf.

posted on 06 Jul 2012, 13:28

28. thedarkside (Posts: 654; Member since: 30 Apr 2012)

i saw why the other day. my buddy that works for tmo showed me their S3. its freaking sweet. definitely swayed me to get one even though i only played around with it for maybe 5 minutes.

posted on 05 Jul 2012, 23:36 6

9. iWorld (Posts: 85; Member since: 05 Jul 2012)

Galaxy S3 is no doubt a smart device but, 4.7" screen don't you think its too big.

posted on 05 Jul 2012, 23:49 11

12. HouTexan (Posts: 453; Member since: 08 Jan 2012)

Seems like it's not too big for 19 million people. If you think it's too big, don't buy it. Not that hard.

posted on 06 Jul 2012, 00:28 7

18. kartik4u98 (Posts: 511; Member since: 19 May 2012)


posted on 06 Jul 2012, 00:31 3

19. mas11 (Posts: 1034; Member since: 30 Mar 2012)

The Galaxy Note's screen is too big for me, but the SIII is the perfect size. Try it sometime at a Verizon store.

posted on 06 Jul 2012, 03:22 1

25. bayusuputra (Posts: 963; Member since: 12 Feb 2012)

wait till iPhone came up with a larger than 4" screen.. then you'll most likely say that anything with

posted on 05 Jul 2012, 22:51 11

2. fur0n (Posts: 75; Member since: 13 Jun 2012)

19 million s3's sold! go samsung

posted on 05 Jul 2012, 22:58 1

3. zhypher_23 (Posts: 195; Member since: 04 Jun 2012)

Great News :))

posted on 05 Jul 2012, 23:07 5

4. Tre-Nitty (Posts: 470; Member since: 16 Nov 2010)

Wow, great job Samsung but kinda makes you wonder, with 19 million estimated gsIII handsets sold, whose really the sheep. Just as bad as apple fanboys and loyalists. And regardless to what anybody says, the gsIII isn't a huge upgrade over the gsII and yet Apple gets drilled by Android faithfuls for minor upgraded devices once a year but it's ok for Samsung right? Smh. Get a grip people, Samsung is just as greedy as Apple and any other huge corporation.

posted on 05 Jul 2012, 23:40 5

10. KParks23 (Posts: 684; Member since: 13 Oct 2010)

Lmfao are u fn retarded.. Apple people go around showing there phone off like it's the greatest thing ever and ur sumhow inferior if u don't own 1 Sammy htc and moto buyers don't do this.. Apple people no matter what ur talking about in a conversation always got to change the topic to bring up that they own 1 and Sammy moto htc don't go around creating and LOOSING lawsuits every other day big difference buddy..

posted on 06 Jul 2012, 07:50

27. Tre-Nitty (Posts: 470; Member since: 16 Nov 2010)

He asks me am I retarted but yet doesn't know how to spell somehow or losing. Wow, what a dork.

posted on 06 Jul 2012, 13:59

31. KParks23 (Posts: 684; Member since: 13 Oct 2010)

That's all u come back with is that I accidentally put 2 o in losing and I spell somehow with sum everything I wrote that's all u got.. I'll just leave it at that.

posted on 05 Jul 2012, 23:52 4

14. Nocturne (Posts: 24; Member since: 21 May 2012)

The sheep thing is yet to be determined I believe, as long as Samsung continues to develop phones that are as good, if not superior to the competition, and they continue to innovate then its called buying the best not being a sheep.

But only time will tell.

(I already see people buying the SGS3 and being amazed, yet having no clue what its actually capable of. SMH)

I still disagree with the rest of your statement though.

The reason the iPhone 4S was seen as a poor upgrade was that it kept the same screen size AND technology, same design, same RAM and the only major UI changes it had was its notifications.
The Camera improved and it had a dual core CPU, but clearly that's not enough of a change if only ONE new model is released every year.

The SGS3 is considered a huge upgrade because of new processor, new design, new camera, new screen size and technology used (compared to SGS2), and a MAJOR UI overhaul. What extra features where you looking for?

The only allegiance I have is to a company that pushes the envelope, because at the end of the day, all businesses want to make money.

I just have to make sure its money well spent on my part.

posted on 06 Jul 2012, 02:44 2

24. tedkord (Posts: 14734; Member since: 17 Jun 2009)

You become a sheep when you buy a phone based solely on its brand. No one is buying the Galaxy S3 because it's a Samsung, or because it's a Galaxy.

posted on 06 Jul 2012, 07:41 1

26. Aeires (unregistered)

Actually the S3 is a big upgrade from the S2. The amount of features Samsung packed into the S3 are worth getting this phone for. The specs are also better, but technology is only moving so fast at the moment.

To make another point, let us know when people take vacation to camp out in line for a phone that has only a few options added to it. Now that's absurd.

posted on 05 Jul 2012, 23:15 23

5. AngryAppleCustomer (Posts: 3; Member since: 05 Jul 2012)

I am a long term iPhone user and have always been a critic against android. I was a apple fan at heart. But now it's pretty obvious that Samsung, and android in general, have overcome any potential apple could ever accomplish. I am disappointed in the iPhone, but it is evident that the switch to android is proper. Android has succeeded. Apple has failed. Message to all other iPhone fans, it's ok to change what we onced loved. There is no point in "suffering" with what we believe to be is the best and really just missing out on the reality. I congratulate android, for they have won.

posted on 05 Jul 2012, 23:51

13. Sackboy117 (Posts: 178; Member since: 17 Oct 2011)

Well said. . . but what's up with ur name??

posted on 06 Jul 2012, 00:36 3

20. mas11 (Posts: 1034; Member since: 30 Mar 2012)

The iPhone was the best phone on the market until the OG DROID came out. It was the Time Magazine Gadget of The Year. Apple failed to surpass Android with the iPhone 4 and from then on Android has remained on top. So I agree with your statement.

posted on 06 Jul 2012, 02:41 1

23. tedkord (Posts: 14734; Member since: 17 Jun 2009)

Well, I think you're being a bit generous. I think it wasn't until Froyo/Gingerbread that Android overtook iOS. As far as devices, the first to really surpass the iPhone was the Galaxy S2. It was close, but the SGS2 edged it out.

posted on 06 Jul 2012, 13:32

29. thedarkside (Posts: 654; Member since: 30 Apr 2012)

im, what most people on here, would call an ifan. although i love my phone for the simplicity and size, i honestly must agree with you. if apple continues to fail on delivery on future devices i may just not get them any longer. i thought about getting an ipad just so i could sync everything up with my iphone but since playing around with a friends ASUS Transformer Prime tablet, ive decided it was a better fit for me.

posted on 05 Jul 2012, 23:18 6

7. Packer29 (Posts: 56; Member since: 10 Sep 2011)

I will soon be giving up my Razr Maxx for tje Galaxy s 3, congrats to Samsung!

posted on 06 Jul 2012, 13:34

30. thedarkside (Posts: 654; Member since: 30 Apr 2012)

im not sure im completely agree with your switch, but if there were any phone to go to it would be the S3. so i give you +1 thumbs.

posted on 05 Jul 2012, 23:34

8. Sackboy117 (Posts: 178; Member since: 17 Oct 2011)

Ah, so this is why they are being targeted by Apple. Other than that, good for Samsung.

posted on 05 Jul 2012, 23:43

11. Mehdia (Posts: 23; Member since: 22 Apr 2012)

good samsung is 1st smartphone go samsung.

posted on 05 Jul 2012, 23:57 1

15. checkmymike (Posts: 174; Member since: 28 Dec 2011)


posted on 06 Jul 2012, 00:18

16. Bluesky02 (Posts: 1439; Member since: 05 Dec 2011)

Yeah Sammy stay focus in very department, don't become like Sony, where the focus stayed too much on the Playstation department

posted on 06 Jul 2012, 00:19 3

17. networkdood (Posts: 6330; Member since: 31 Mar 2010)

so, how much of that goes to patent lawyers?

posted on 06 Jul 2012, 00:46

21. hung2900 (Posts: 965; Member since: 02 Mar 2012)

Oh, great number. And if you go to the source, 5.9 billion is the profit of Samsung Electronics only, not the whole Samsung group.

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