Samsung notches record profits, aims to sell ten million Galaxy S phones this year

My, how a year changes things. Q3 2009 was a nightmare for mega-corps in terms of earnings , but things have definitely been on the up and up just 12 months later. After Sony pushed out a glowing quarterly report this morning , rival Samsung has done likewise. The company saw record breaking revenues of ₩40.23 trillion ($35.8 billion) as well as profits (₩4.46 trillion; $3.96 billion) in this most recent quarter, with Sammy crediting strong semiconductor performance for the bulk of its newfound fortune. A tip of the hat was also given to its mobile communications business, with the outfit moving a staggering 71.4 million phones during Q3 2010 (a 19 percent boost year-over-year). Reports are noting that between five and seven million of those were of the Galaxy S variety, and it’s hoping to sell ten million of ‘em before the close of this year. All that said, the firm isn’t expecting an equally rosy Q4, noting that a strengthening won and heightened price pressures around LCD panels and DRAM could put a damper on skyrocketing profits. So much for taking a day to celebrate, eh? [Thanks, Rajendra] Continue reading Samsung notches record profits, aims to sell ten million Galaxy S phones this year Samsung notches record profits, aims to sell ten million Galaxy S phones this year originally appeared on Engadget on Fri, 29 Oct 2010 19:05:00 EDT. Please see our terms for use of feeds . Permalink

Posted by on October 29, 2010. Filed under News, Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry