Samsung Predicts Record Second Quarter Earnings

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Samsung is planning to announce their earnings for the second quarter on July 27th, but like an eight-year-old a week before Christmas, they couldn't quite wait for the big day. In a statement released late Thursday night, they gave a preview of some of the figures we'll be seeing from the earnings report later this month. Looking at the numbers, it's hard to blame them for being excited.

According to the information they've released, Samsung will be reporting record profits for the second quarter. They estimate sales of 46-48 trillion Korean won ($40-42 billion), and profits of 6.5-6.9 trillion won ($5.7-6 billion). Much like their arch-rival Apple, half of that profit comes from smartphone sales.

What's more, Samsung's success isn't likely to slow in the third quarter. Despite a somewhat rocky U.S. launch their latest flagship smartphone - the Galaxy S III - is displaying all the characteristics of a major hit. The phone is turning out to be extremely popular. Assuming it, along with Samsung's other products, continues to do well, then you can bet that we'll be seeing similarly strong numbers this time next quarter.