Record $7.3bn Samsung Q3 2012 profits confirmed

Oct 5, 2012
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Record $7.3bn Samsung Q3 2012 profits confirmed

Samsung announced record profits of $7.3bn for the last quarter, setting a new personal-best for the firm, though it warned that stronger competition from the iPhone 5 means the good news may not last. Samsung almost doubled profits from a year previous, strengthening its position with the Galaxy S III and other high-profile Android devices, though it won't detail specifics until it releases full-quarter results by October 26. In the meantime, there are some big bills to be paid.

For instance, there's the contentious $1bn fine Samsung has been told to pay Apple, after a San Jose jury ruled that the South Korean company had slavishly copied its Cupertino rival's iOS product design. Samsung will appeal the ruling, though there's no telling how the appeals court will decide.

For the full year, Samsung expects profit to hit $25bn. That could also leave it facing a higher than usual bonus round for its global workforce, Reuters reports, under performance-related payment schemes.

The arrival of the iPhone 5 is likely to give Samsung the biggest headache, however, with Apple facing so much demand for its new smartphone that it is struggling to keep it in stock. Samsung's Galaxy S III has become the de facto Android device to challenge the iPhone, with sales actually jumping in number initially despite Apple's lawsuit and the increased attention on the iPhone refresh.

Samsung also has a close relationship with Google, though it's speculated that the search firm will partner with another company for its next Nexus "own brand" Android handset, breaking a two-device run with Samsung.


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