Samsung to make record $7.3bn profit

Driven by smartphones and smart TVs...
Adam Smith

October 5, 2012
Samsung Logo

Samsung is about to post its latest quarterly figures, which it’s estimated will show a record profit of $7.3 billion (around £4.5 billion).

That’s double last year’s figure for the same quarter, and an impressive showing driven mainly by its new smartphone, the Galaxy S III, and also strong sales of the firm’s more costly televisions.

The figure beat analyst expectations, and sent the company’s stock up slightly, but the following quarter isn’t expected to be as strong for Samsung, as it has to fork out more marketing money to fight the likes of Apple’s iPhone 5 launch.

And there’s also the fiscal strain of the continuing global legal battle against Apple, with the Cupertino firm hauling Samsung’s smartphones and tablets through various courts with accusations of patent infringements.

James Song from KDB Daewoo Securities told the BBC: “Fourth-quarter earnings will depend on how much Samsung will (set aside) provisions for possible fines relating to a lawsuit with Apple.”

Samsung Galaxy S3

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