Smartphones boost Samsung profits

DHAKA: Samsung Electronics has said that it expects its profits to surge 79% in the second quarter as sales of its smartphones continue to grow.

It has forecast an operating profit of 6.7tn won ($5.9bn; £3.8bn) for the period, its highest quarterly profit since 2008.

Samsung overtook Nokia as the world`s biggest maker of mobile phones earlier this year.

Analysts said its profits may rise even further in the coming months.

“Earnings will be stronger in the current quarter as sales of the high-end Galaxy S III will increase dramatically and drive the telecom division`s earnings to above 5tn won,” said Nho Geun-Chang an analyst with HMC Investment Securities.

“We estimate shipments of the Galaxy S III will reach 19 million units in the third quarter.”

Source: BBC

BDST: 0920 HRS, JUL 06, 2012
Edited by: Abul Kalam Azad, Newsroom Editor