Samsung anticipates record profits due to smartphone sales

Samsung Electronics has said that it expects to make a record profit for the quarter to the end of December- powered by the growing sales of its smartphones.Samsung anticipates record profits due to smartphone sales The success of its smartphones has been a key driver of Samsung’s growth in recent years

Samsung has estimated that it will make an operating profit of £5.1billion (8.8 trillion won) for the quarter, a 90% jump from the same period a year earlier.

That would make it the fifth quarter in a row of record profits for Samsung.

The success of its Galaxy smartphones helped Samsung overtake Nokia as the world’s biggest phone maker last year.

One of the key drivers of Samsung’s smartphone sales in recent months has been its Galaxy S3 model.

However, the phone is facing increased competition, not least from rival Apple, which launched its iPhone 5 in September last year.

Other rivals, such as Nokia and HTC, have also launched new handsets powered by Windows Phone 8, in an attempt to increase their market share.

At the same time, there are also concerns that the pace of growth of sales that Samsung has seen in recent quarters could slow in the coming months.

Investors are a bit concerned that Samsung’s momentum may slow in the first half after posting a series of record profits as the smartphone market is unlikely to sustain its strong growth, as advanced markets are nearing saturation.

January 24, 2013  Tags: , , , , , , , , , ,   Posted in: Business Win, Digital Business, Ecommerce Business, Exporting Businesses, Global Business, Growing Business, Growing Businesses, Growing Profits, Growing Sales, Technological Businesses, Uncategorized, Winning Businesses

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