Thanks to Samsung Galaxy S3 that recently placed its foot in the mobile market and has helped the company in making huge sales with increased demands. Since, the firm is now planning to post its record profits for the third quarter, as per a recent report.
The company has announced this Thursday that it would exceed analysts' expectations in terms of profits. It seemed more like boasting when Samsung affirmed that an operating profit of 8.1 trillion Won (£4.5bn) would be posted in the third quarter.
As per the findings, the amount is almost two folds than that posted in the previous year i. e. 4.25 trillion Won (£2.36bn). The company's shares went up by 1.5%, though it was being believed by analysts that it was going to be last quarter for the firm.
Besides, all the credit behind a huge increase in the profits is being given to Galaxy handsets newly launched. Some 20 million units have been sold out only in a period of 100 days. The report says that the earnings would be made public probably later this month.
"Fourth-quarter profit will be pressured by one-off expenses: performance payouts and some $1 billion in legal provisioning relating to the Apple litigation", said analyst at NH Investment Lee Sun-tae.
US Business News
New Zealand News
- After Suspected Botulism, CFIA Warns People
- Health Care Education Necessary for the Future of Province: Analysts
- B.C. Government Grants $700,000 for Managing Facial Deformities
- Michelle Shocked delivers hate speech about homosexuality at her gig
- Guess who Justin Bieber got burned by?!! His ex-girlfriend Selena Gomez