Printed from http://www.electronista.com

Galaxy powers Samsung to $5.9 billion profit

updated 05:47 pm EDT, Thu July 5, 2012

Europe debt crisis raises concerns though

When Samsung releases its financial results for the most recent quarter later in July, the electronics giant is expected to report nearly $6 billion in profit. That quarterly profit will be driven in no small part by the runaway success of the company's Galaxy S III smartphone. As Reuters reports, though, executives at the company are anxious about happenings in the euro zone, where debt concerns could threaten Samsung's sales successes.

Analysts expect that Samsung's April-June operating profit will jump 77 percent to $5.9 billion over the same quarter a year ago. This would represent a 14 percent increase over the January-March quarter, which previously held the quarterly profit record.

The mobile division has driven much of this, with its profits doubling from a year ago on sale of about 50 million smartphones. Mobile now accounts for more than 70 percent of Samsung's earnings.

Still, the company is concerned about the ongoing European debt crisis. Europe is the largest consumer electronics market for Samsung, and the company fears it may have to cut costs and increase prices if the value of the euro drops.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. global.philosopher

    Fresh-Faced Recruit

    Joined: Sep 2010

    0

    Google vs Samsung

    Is it possible that Samsung is making more money from Android than Google. Now that is funny!

    Then again I think even Microsoft is making more money from Android (IP licensing) than Google.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News