Samsung posts record profits as Galaxy sales crush Apple
Mobile biz powers 91% boost to Q3 bottom line
Booming mobile sales have powered record profits at Samsung in Q3. Samsung published a preliminary statement of their financials yesterday [PDF] which shows a 91 per cent increase in net profit compared to the same three months last year.
The South Korean firm drew in 6.56 trillion won profit ($5.9bn or £3.7bn) in the three months to the end of October, compared to 3.44 trillion won ($3.1bn or £1.9bn) for the same period in 2011.
And with general consumer electronics sales flat at 2 per cent growth, and LCD and memory sales down, it was mobile - and to an extent display panels - that were surging and pulled the whole company with them.
It comes just after news that Samsung's handsets had outsold Apple's by two to one.
Samsung clocked a stunning 82 per cent year on year increase in sales in the highly competitive mobile market. Sales were up 28 per cent sequentially from Q2. The 26.25 trillion won ($23.9 billion, £14.8 billion) brought in by the mobile sector was 50 per cent of Samsung's total 52.18 trillion won ($47.6bn, £29.5bn) revenues for the quarter.
Samsung execs noted the global expansion of the Samsung Galaxy SII as the key Samsung strength in the mobile market and reinforced line-ups at the mid/low levels.
Weak demand for PCs, air-conditioning units and TVs in the developed world put a lag on other areas of the business.
Samsung's profit margin for the quarter sits at 12.6 per cent - less than Apple's 25 per cent - but still very healthy. And of course, it also outshone Apple year-on-year Q3 profit increase of 21 per cent, which was below market-watchers' estimates.
The Sammie execs predicted that Q4 Christmas season would fuel a rise in sales of TVs, tablets and phones, though did warn that competition in the smartphone market was intensifying. ®
Samsung's Q3 2012 preliminary results [PDF]
Of course, the difference with Sammy is, if people get fed up of their products, they can switch to another Android manufacturer and still have all their stuff.
Makes for a much easier transition away from the hated foe du jure.
Technology and Innovation beats complacency and litigation.
"Frankly, I couldn't give a monkeys about the hardware - and not too much of a monkeys about the OS - as long as I can easily port my software from one platform (that means OS, newbies) to another."
So the fart apps are easy to port are they ?
Really balanced view of technology there - I am a developer, therefore software is EVERYTHING !
Grow up ! It is a symbiotic relationship software/hardware - either is useless without the other.
You post anonymously..
..but I bet you live in the USA.
Is Samsung going to thank Apple?
After all, Apple's worked hard these past two years, spending millions on lawyers and courts, just to get everyone noticing and talking about Samsung's phones. And in the past two years, my how Samsung's market share has grown!
Sure, Samsung's had to cough up its share for lawyers and court expenses too, but the extra publicity has brought in much, much more cash than has been spent!
Really, the very least Samsung could do is send Apple a bouquet, or maybe a nice fruit basket with a sincere thank-you note.
Oh, BTW Apple, ever heard of the 'Streisand Effect'?