Samsung estimates record $5.9 billion profit for Q2 2012

Samsung Q2 2012 Earnings Preview

Good news: there’s actually a company besides Apple making money selling smartphones! While manufacturers HTC, RIM and Nokia have all gone through widely publicized struggles to compete in the smartphone market, Samsung has thrived and has overtaken Nokia as the world’s top mobile phone vendor. The South Korean electronics manufacturer on Thursday estimated that it earned a record $5.9 billion profit in the second quarter of 2012, a 79% increase from its earnings in the second quarter of 2011. As Bloomberg notes, however, these impressive figures were actually a disappointment to many analysts who projected quarterly sales would be around 6% higher than the estimated $41 billion in revenues that Samsung reported today. Even so, the overall outlook for the country’s handset business looks bullish since Samsung expects that its recently-released Samsung Galaxy S III smartphone will sell at least 10 million units this month alone.

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