Over $7.1 billion to be reported this month
With all the sales for the Galaxy S3 in the past 4 months, it looks like Samsung is going to be reporting some off the charts profits from operations this quarter. Though the official date for the reporting is October 24th, it seems that they could not wait to let people know just how well they happened to do for the quarter end. As part of their release of information before they hold the actual announcement of results, Samsung has provided information relating to the profits and the number of Galaxy S3 units which have been shipped.
And in the early release of numbers, Samsung is estimating $7.29 billion in profits for the quarter. That is a great number showing an increase of over 90% from the previous first 3 quarters of last year to the 3 quarters for this year. Every company would like to see those kinds of numbers. The Galaxy S3 is reported to have reached the 20 million mark in units and analysts guess Samsung has moved 58 million phones this quarter across all their phones. Their success just seems to continue. We reported just how strong the Galaxy S3 is against the iPhone 5 even when it was announced. And that strength adds to the bottom line.
Samsung still faces a lot of challenges going forward. The ongoing lawsuits between Samsung and Apple are going to take a toll. Including the recent loss to Apple in August. While it is on appeal, there is no expense to offset profits. But if they lose the appeal, it will be a very large number to reduce earnings by. There is still the threat of Apple securing a sales ban in the US on select devices, including the Galaxy S3, so that is a concern. For now, those are future concerns and not current ones.
Samsung has done an excellent job of growing the company and grabbing the top spot for smart phones around the world. They are going to have to keep creating new products to keep these great results going forward. Can they do it?