Samsung Quarterly Earnings Reach $7.29 BillionBy: Sean Patterson - October 5, 2012
Samsung Electronics today announced its earnings guidance for the third quarter of 2012. The company estimated its revenues to be 52 trillion Korean won ($46.8 billion) and estimated its operating profit at 8.1 trillion won ($7.29 billion). This continues Samsung’s trend of rising revenue and could lure back investors who bailed on the company after it lost to Apple in a much-publicized U.S. patent lawsuit.
Part of Samsung’s growing success is undoubtedly its success in the growing smartphone market. Its flagship Android smartphone, the Galaxy S III, has sold over 20 million units since its debut this spring. A mini version of the Galaxy S III is rumored to be in the works for a launch this holiday season. Samsung expects its new extra-large Android smartphone, the Galaxy Note II, to sell upwards of 20 million as well.
ComScore, a leading digital metric company, this year has consistently estimated that over a quarter of Americans who have smartphones use a Samsung device.
Though Samsung was ordered to pay $1 billion to Apple after a jury back in August determined Samsung violated Apple design patents, the Korean company has continued to fight Apple on the legal front. Just this week, Samsung added Apple’s new iPhone 5 smartphone to a patent case set for a 2014 trial. Samsung claims the iPhone 5 and other iPhone models violate wireless technology patents it holds.