Samsung has announced its earnings for Q2 2012, with a record profit of $5.9 billion, driven primarily by its roaringly successful smartphone business. Its operating profit jumped almost 80% compared to last year, as it overtook Nokia to become the top mobile phone maker in the world. Its revenues jumped to $41.8 billion, up 21% year-over-year.
Samsung sold nearly 50 million smartphones in Q2, which is nearly double the number of iPhones that Apple sold last quarter. The Galaxy S III, its latest top smartphone, has sold more than 10 million units already, and is on track to sell a lot more. Even the Galaxy Note continues to see strong sales, as do most of its other mobile device offerings.
Samsung’s operating profit for the mobile communications division jumped nearly 145%, more than offsetting a 38% decline in the operating profit in its semiconductor business. Mobile revenues jumped nearly 75%.
Samsung ended the quarter with nearly $20 billion in cash reserves.
While Nokia, HTC, LG, Motorola and RIM are bleeding to death and posting losses every quarter, Apple and Samsung are rolling in the dough.
Check out the complete results at Samsung Investor Relations – Samsung Q2 2012 Results