Samsung Q2 profits up 79 per cent to £3.8bn


Handset sales help propel Samsung profits to around £3.8bn for the second quarter

Samsung Electronics has told its investors it expects to report a 79 per cent increase in its year on year profits for the second quarter.

The manufacturer announced today (July 6) it estimates its second quarter profits to be 6.7 trillion Korean Won (£3.8bn), up from 3.57 trillion Korean Won (£2.01bn) in Q2 2011.

Sales figures are expected to reach 47 trillion Won (£26.5bn), up from 39.44tn (£22.25bn) in the same quarter last year.

The findings will now go to external audit before being officially announced to shareholders at its next quarterly meeting.

Profits have been helped by the continued success of Samsung mobile devices, which saw the manufacturer over take Nokia for global share last year.

Sales of its recently launched handset, the Galaxy SIII are expected to hit around 19 million globally by the autumn. Sales of the previous model, the Galaxy SII have passed 20 million since launching in May last year.