Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.
It seems like Samsung only just revealed record quarterly financials in July but already the Korean firm is being tipped to better those figures with its performance in the third quarter of 2012. Korea-based analysts — cited by The Yonhap — foresee that operating profit during the period will hit $6.2 billion (7 trillion won), that’s up from $5.9 billion in the previous quarter and testament to the early success of its flagship smartphone, the Galaxy S III.
Earlier this week, Samsung revealed that the phone had passed 20 million sales, within 100 days of launch, no less. Buoyed by that uptake, quarterly sales are estimated to increase by 24.5 percent to reach 51.37 trillion won (circa $45.5 billion), leading the firm to better its Q3 2011 profits by a whopping 78 percent, analysts predict.
Samsung’s bottom line is also likely to be boosted by the release of its second generation Galaxy Note ‘phablet’ (or ‘tablette’, as I prefer). The original Note hit an impressive 10 million sales milestone in August, and demand for the newly announced sequel looks set to spike thanks, in no small irony, to its competitors. Consumer awareness of so-called ‘small tablets’ is at an all time high after Google launched its Nexus 7, and Apple is could bring more attention to the space with a strongly rumored ‘small iPad’ tipped to be unveiled in October.
Samsung’s continued growth makes its $1.2 billion fine for being found guilty of infringing Apple’s patents in the US look like pocket change. The company recently confirmed “continue to do our utmost until our arguments have been accepted”, and that includes an appeal.
The fine itself is not due to be paid immediately but the company will be more concerned at the possibly that a number of its devices — including the Galaxy S III — could face a sales ban in the US, following the landmark verdict.
Samsung’s third quarter earnings aren’t due until the end of October, but we’ll bring you full details of the company’s performance once they are available
Image via Flickr / Stereopoly Blog
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