Samsung today reported third quarter earnings that were its highest ever, and most of the credit belongs to the runaway success of the companys smartphone division. In its announcement of record profits of $7.4 billion, the company states, Samsungs flagship GALAXY S3 smartphone, along with diverse smart device offerings which encompass high- to low-end products, have been the key drivers in raising profit margins.
Exact sales of the Galaxy S3 were not released in the earnings report, but Samsung revealed in September that it had sold more than 20 million units of the Galaxy S3 since the device debuted in June. The IT & Mobile divisions which include Samsungs wide range of smartphones and tablets, digital imaging, and telecommunication systems accounted for 68 percent of profits.
Samsung says that it expects increased demand for smartphones and tablets in the holiday shopping season to lead to another strong earnings period in the fourth quarter of 2012. Despite the companys optimism, increased competition from the iPhone 5 and iPad Mini are likely to prevent another record performance.
Sources: Samsung
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