Samsung has reacted to a drop in the firm's share price by predicting sales of the Galaxy S III will top 10 million units in July, making it the fastest selling handset in the company's history.

Shares in the firm fell by more than 4 percent on 25 June as brokers cut Samsung's quarterly profit outlook.

Samsung itself, however, has claimed earnings in the latest quarter will top those seen between January and March, countering suggestions supply issues had hit the firm hard.

Day by day

"The overall market condition was challenging due to euro zone issues and tight supply of components...but [our] second-quarter results will be better than the first quarter," Samsung's mobile head JK Shin told reporters.

It took Samsung 150 days to ship 10 million units of the Galaxy S II back in September 2011. If its successor tops the same figure at some point in July, it will have taken 63 days or less.

Indeed, major US carriers are reporting stock issues do to constrained supply and huge demand, with Sprint, T-Mobile and AT&T currently unable to sell the 32GB SKU as a result.

In all, JP Morgan expects Samsung to sell 50 million smartphones as a whole during Q2 2012, up from the 44.5 million the Korean giant sold in the previous quarter.

[source: Reuters]