While the rest of the players in the smartphone market (except Apple, of course) may be struggling to make ends meet, Samsung is thriving, thanks to continuing record sales of its Galaxy smartphones.
Samsung reported a record quarterly profit of $7.3 billion, with strong sales of its TVs and Galaxy smartphones offsetting the decline in chip and screen sales to Apple. With the holiday season coming up, Samsung may report four straight record quarters, to make 2012 its best year yet.
It is expected to make an annual profit of more than $25 billion in 2012, even after a massive increase in marketing expenses and a huge legal bill following its legal battles against Apple.
Samsung’s mobile division may have contributed to more than two thirds of its total profit in the last quarter. Its record march depends primarily on whether or not it’s able to continue to launch new hit smartphones and compete with the likes of Apple’s iPhone 5 in the market as well as in courts.
It’ll be launching the Galaxy Note II as well as a budget version of the Galaxy S III which should help it shore up more sales in the holiday season.
Samsung will be reporting its full results on October 26.