Samsung Electronics
has approximated record profits in the 3 months to September, led by massive
sales of its Galaxy smartphones that run on Google’s Android.
The South Korean company said it anticipates it’s
operating profits of 8.1 trillion won nearly twice over last year's amount.
The approximations beat analyst prospects
sending Samsung shares 1.5% higher.
Nonetheless, ongoing legal wrangles with Apple
have cast a gloominess over its future performance.
Smartphone sales make much of the profit at the
company which also manufactures screens, semiconductors and televisions sets.
Analysts said the record profits were largely
driven by gains in that sector offsetting other parts of the business which are
not showing drastic change.
"Stronger than expected sales of the present
hit,Galaxy S3 and high-end television models appear to have fueled strong
earnings growth in the third quarter," said Lee Sun-Tae, from NH
Investment and Securities.
However, Samsung's higher-end Galaxy series
line of smart phones pits it directly against the pricey Apple's iPhone.
This has led to more than a few different legal
wrangles between the two smartphone market giants in a number countries around
the globe.
A court ruling in late August ordered Samsung to
pay One billion dollars in damages to Apple after Apple accused Samsung of infringing
several of its patents.
The company is owing to officially report full income
later as the month progresses.
