Samsung expects to extend its sales lead over Apple and Nokia in the smartphone market, with company wide operating profits likely to hit 6.7 trillion KWN ($5.9 billion) in Q2 2012.
That's according to the Korean firm's latest projections, with analysts claiming profits could rise even further as sales of Samsung's Galaxy S III pick up in the following quarter.
An eye on Europe
Such a figure would represent the firm's highest quarterly profit since 2008, up 79 percent on the figure posted during the same period in 2011.
However, Samsung claims its smartphone business is yet to reach its peak, stating that the European debt crisis is curtailing sales of its handsets in impacted regions.
"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," an anonymous Samsung executive told Reuters.
"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."
Galaxy gains
Indeed, Samsung's projected second quarter revenue of 47 trillion KWN ($41.4 billion) would mean the company had missed forecasts made by analysts.
Many, however, expect Q3 2012 to be one of Samsung's strongest yet.
"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," stated HMC Investment Securities analyst Nho Geun-chang.
"We estimate shipments of the Galaxy S III will reach 19 million units in the third quarter."
[source: Reuters]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Interview
Apr 9th, 2024
Saga CEO Rebecca Liao on the launch of publishing division and mass market web3 games
Top Stories
News
1 hour, 38 minutes ago
PocketGamer.biz Podcast Week in Mobile Games E15 - Star Wars: Hunters finally launches, the West's MOBA problem, and Xbox handheld rumours
News
Jun 7th, 2024
Week in Views - The hunt for the new Star Wars game, Xbox goes handheld, and cats versus monsters…
News
Jun 7th, 2024
Week in Views - The hunt for the new Star Wars game, Xbox goes handheld, and cats versus monsters…
News
Jun 7th, 2024
Metacore's Teppo Soininen: “Anybody who has put a game into soft launch knows there’s still plenty of space for f*ck ups.”
Events
Tribeca Games Festival 2024 | North America | Jun 5th |
Xbox Games Showcase / [Redacted] Direct | Jun 9th | |
PC Gaming Show 2024 | Jun 9th | |
Steam Next Fest: June 2024 Edition | Jun 10th | |
WN Conference Istanbul 2024 | Jun 11th | |
GamesForum Hamburg 2024 | Europe | Jun 11th |
ESI London 2024 | Europe | Jun 13th |
Indie Dev Play 2024 | Europe | Jun 14th |