The two largest consumer technology giants in the world posted their results yesterday. They were Apple and Samsung. While Apple’s results were very impressive, as expected, even Samsung posted really good numbers.
Samsung reported a quarterly operating profit of $7.4 billion, with profits almost doubling year-over-year.
Its smartphone shipments have been estimated to be around 58 million in Q3, which is much higher than Apple’s 27 million iPhones. Samsung’s mobile division accounted for around two-thirds of its total operating profit. Samsung may have shipped close to 18-20 million Galaxy S III units in the last quarter. Samsung and Apple account for half the total smartphone shipments globally.
On the flip side, Samsung’s profits from its chip division dipped 28% as prices of DRAM chips declined, partly offset by increasing sales of its NAND flash chips.
Even its TV business isn’t doing all that well. Smartphones are expected to be its business growth driver in the coming years.