Manufacturer’s earnings to rise 88 per cent in the final three months of 2012, powered by strong smartphone sales
Samsung is expected to report record profits of £5.1 billion for Q4 2012, driven by continuing strong sales of its smartphones.
In preliminary guidance published today, the manufacturer said profits would rise by 88 per cent, representing a record for the fifth successive quarter. Revenue is expected to rise 18 per cent to around £32.8 billion.
Samsung didn’t provide a breakdown of the results in the guidance, but analysts believe the profit growth has been driven by the company’s smartphone sales, which accounted for around two-thirds of earnings in the previous quarters.
Last week a key supplier told The Korean Times that the manufacturer has set itself a target of shipping 510 million handsets this year, up from the estimated 420 million handsets the firm shipped last year.
Towards the end of last year, Samsung overtook Nokia as the world’s leading mobile phone manufacturer. According to analytics firm IHS, Samsung finished 2012 with a 29 per cent share of the market, up from 24 per cent in 2011.
On November 4, Samsung announced that sales of its flagship Galaxy S III smartphone had topped 30 million units, five months after going on sale.