toggle

AAPL Stock: 121.3 ( -1.07 )

Printed from http://www.macnn.com

Galaxy powers Samsung to $5.9 billion profit

updated 05:47 pm EDT, Thu July 5, 2012

Europe debt crisis raises concerns though

When Samsung releases its financial results for the most recent quarter later in July, the electronics giant is expected to report nearly $6 billion in profit. That quarterly profit will be driven in no small part by the runaway success of the company's Galaxy S III smartphone. As Reuters reports, though, executives at the company are anxious about happenings in the euro zone, where debt concerns could threaten Samsung's sales successes.

Analysts expect that Samsung's April-June operating profit will jump 77 percent to $5.9 billion over the same quarter a year ago. This would represent a 14 percent increase over the January-March quarter, which previously held the quarterly profit record.

The mobile division has driven much of this, with its profits doubling from a year ago on sale of about 50 million smartphones. Mobile now accounts for more than 70 percent of Samsung's earnings.

Still, the company is concerned about the ongoing European debt crisis. Europe is the largest consumer electronics market for Samsung, and the company fears it may have to cut costs and increase prices if the value of the euro drops.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. global.philosopher

    Joined: Dec 1969

    0

    Google vs Samsung

    Is it possible that Samsung is making more money from Android than Google. Now that is funny!

    Then again I think even Microsoft is making more money from Android (IP licensing) than Google.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented