In the second quarter this year, just two companies accounted for more than 100% of the smartphone industry’s profits according to estimates. Raymond James analyst Tavis McCourt recently said Apple (AAPL), which will unveil the all new iPhone 5 on Wednesday afternoon, took in 77.1% of second-quarter smartphone profits. Samsung (005930) accounted for 29% of Q2 profit among major global smartphone vendors. As the rest of the market continues to lose money, Samsung has yet another blockbuster hit on its hands — the company said on Wednesday that it expects to sell more than 30 million Galaxy S III smartphones before the year is over.

“The Galaxy S3 is expected to sell more than 30 million units within this year,” Samsung’s IT and mobile unit boss Shin Jong-kyun said while speaking to South Korea’s Yonhap News Agency. The projection comes just six days after Samsung confirmed it has sold more than 20 million Galaxy S III handsets during the phone’s first 100 days of availability.

With more than 20 million Galaxy S III phones sold thus far, another 10 million between now and the end of 2012 would represent a significant slow-down in unit sales. Considering the launch sales spike and increased competition coming ahead of the holidays from Apple’s iPhone 5 and other smartphones including the company’s own Galaxy Note II “phablet,” the slowed pace is not unexpected.

Samsung unveiled the Galaxy S III this past May and while the phone has been very well received by users, BGR was not terribly impressed with the handset when we reviewed it in June.