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Samsung expects Galaxy S III sales to top 30 million in 2012

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.

Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.