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Samsung boasts Q3 profits of $7.3 billion USD bolstered by strong Galaxy S III sales

Samsung wowed investors by posting record operating profits for its upcoming Q3 quarterly earnings report. The official numbers come out at the end of the month, but Samsung has announced it will beat analysts’ estimates with an operating profit of $7.3 billion.

Much of that success can be attributed to 20+ million sales of the Galaxy S III; the company is believed to have sold 57.1 million smartphones in the third quarter, 32% of the entire smartphone market. This is an extraordinary number, and the most ever sold by a company in a single quarter.

The trial loss against Apple regarding patents and trade dress doesn’t seem to have affected Samsung’s sales, and may have in fact boosted the prominence of the Galaxy brand throughout the world, and especially in the United States.

Compared to last quarter’s $5.9 billion profit, Samsung seems to be headed in the right direction on all accounts. Its mobile phone business earned 93% more this quarter than last, and with the upcoming worldwide release of the Galaxy Note II, the company is in a strong position to continue that trend.

The Galaxy Note II is coming to Canada soon, as is the Garnett Red Galaxy S III.

Via: Bloomberg

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