Samsung estimates $7.3bn profit in last 90 days

Samsung has said that it is expecting to double the profits it has made this year compared to the same three month to September last year as sale of its high-end TVs and smartphones continues to rocket.

According to the latest figures from the Korean company, Samsung is set to make $7.3bn profit from the last 90 days of business, making companies like Nokia, and RIM and their struggling results look like they are just making excuses.

The company, which is to formally confirm the figures on 26 October, says that sales of the Samsung Galaxy smartphones have helped greatly.

The company has experienced massive growth over the last year seeing each quarter beat the previous one. It is a trend that market is unsure Samsung will be able to keep up however as it is forced to spend more and more money on advertising.

According to the Reuters news agency, Samsung spent a whopping $2.7 billion on marketing around the London Olympics alone.

However with continued high-profile launches scheduled for this quarter in the run up to Christmas Samsung is unlikely to see its profits dip.




The company is currently launching the Samsung Galaxy Note II in the UK, while it has a new Windows Phone smartphone and Windows 8 and Windows RT tablets due at the end of October.

Samsung should also see a lift in laptop sales off the back of Microsoft's Windows 8 launch, also at the end of October.

Add that to sales of the Samsung Galaxy Nexus, the Samsung Galaxy S III, and the possible launch of a Samsung Galaxy S III mini, as well as the usual uplift Christmas provides, and you can see why the company doesn't look like it is going to stop growing any time soon.

Source Yahoo News