Download: Fast, Fun, Awesome

Monday, 8 October 2012

Samsung Records Profits on Smartphone Sales

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.