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Samsung expects profit to hit record $9.4bn in third quarter

Korean electronics giant expects record profit in its third quarter – but not all handset manufacturers are feeling so cheerful.
Written by Steve Ranger, Global News Director on

Samsung is predicting a record profit of 10.1tr Korean won ($9.4bn) for its third quarter.

In its pre-earnings guidance, the Korean electronics giant said sales would hit approximately 59tr won ($55bn) for the quarter. In contrast, the company's sales for Q2 2013 stood at 57tr won, and profit at 9.5tr won. In the third quarter of 2012 those numbers hit 52tr won and 8.1tr won respectively.

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Samsung continues to be a dominant force in the smartphone market, as almost half of all smartphones sold in Europe are Samsung devices. While Samsung's portfolio also includes fridges, TVs and other consumer electronics, the company makes around two-thirds of its profits from smartphones.

Its Galaxy S4 flagship smartphone launched in April and since then the company has added a number of variations and is looking at the enterprise market as an area of growth.

It's also a major force in tablets – the Samsung Galaxy is the second most popular tablet in enterprise, according to research by Forrester.

When Samsung forecast lower than expected profits back in its second quarter, it prompted concerns that the smartphone market was becoming saturated. While no breakdown of Samsung's sales was given with the earnings estimates, it would seem that a slowdown isn't affecting the company's figures yet.

But not all handset manufacturers are performing alike. In contrast, Taiwan's largest smartphone maker, HTC, has confirmed its first quarterly loss following its profit warning in July amid amid intensifying competition and rising costs, partly from making its flagship handset HTC One.

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