Samsung Expecting Another Record Quarter: $7.3 Billion In Q3 Thanks To Galaxy Sales (And Android)
Just because they’re not the most valuable company in history doesn’t mean that Samsung hasn’t been living the Gangnam life. In fact, their expected $7.3 billion record earnings for Q3 is the 4th straight quarter things will be on the up-and-up for Sammy. This is mostly due to Samsung’s Galaxy smartphone sales which accounted for 2/3rds of the company’s record profits. Of course, you could also attribute just a little bit of Samsung’s success on Google’s Android operating system, which transformed Samsung into a global player in the smartphone market. (Hey, Samsung — keep those firmware updates coming).
For those keeping track, Samsung raked in $4.46 billion in Q1, and $5.9 billion in Q2. Unfortunately, things wont come so easily for Samsung in Q4, where they’re expected to dish out, not just performance related payouts to employees, but that $1 billion to Apple (providing that appeal doesn’t work out for them). Also, Samsung’s battle with the iPhone 5 will result in more costs, thanks to the money they’ve spent on fighting the i5 with marketing.
Samsung has shipped a total of 18-20 million Galaxy S3’s of which one landed in my possession yesterday. This should hold me over until the Galaxy Note 2 ships on every carrier under the sun later this year, asserting Samsung’s dominance as the world’s top selling Android OEM.
[Reuters]