Samsung, the world’s number 1 technology firm in terms of revenue, reported a record net profit of $4.5 billion for the quarter as customers around the world flocked to buy Galaxy S3 smartphones.
South Korean electronics giant Samsung Electronics Co said Friday its net profit surged to 5.2 trillion won ($4.5 billion) in the April-June quarter, representing a 48 per cent increase over the previous year.
The company’s September quarter mobile profits are expected to continue to soar as the Galaxy S3 experiences a sales boom ahead of the next iPhone launch, which isn’t expected until October, according to reports.
Samsung increased its share of the global smartphone market in Q2 to 34.6 per cent, compared to main rival Apple’s 17.8 per cent.
Samsung shipped a staggering 50.5 million smartphones during the quarter, the largest number ever by any vendor in a single quarter.
Smartphone sales account for approximately 60 per cent of Samsung’s earnings.
“Samsung has been able to deliver hit models in most major price segments,” market research firm Strategy Analytics stated.
Samsung has sold over 10 million Galaxy S3 smartphones since its launch about two months ago.
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