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Samsung anticipates 72 percent fourth quarter profit increase

Galaxy S3 and Note 2 boost the firm's fortunes
Wed Jan 09 2013, 16:56
Samsung's Galaxy Note 2 in hand

KOREAN HARDWARE GIANT Samsung Electronics has revealed guidance on its expected 2012 financial results, anticipating sales of approximately 201tn Won (£118bn) and operating profit of about 29tn Won (£17bn) for the year.

Samsung's fourth quarter 2012 revenue is expected to rise to over 52tn Won, up more than 10 percent from the same period in the prior year, while fourth quarter operating profit will come in at more than 8tn Won, up about 72 percent from the fourth quarter of 2011.

Bloomberg reported slightly higher estimates, and quoted an analyst saying that Samsung's sales of its Galaxy S3 and Galaxy Note 2 smartphones held up in the face of Apple's release of its iPhone 5, which had slower than anticipated initial sales, partly due perhaps to severe problems with Apple's Maps app.

Reportedly Daewoo estimated that Samsung sold about 62 million smartphones in the fourth quarter, compared to about 45 million sold by Apple.

Samsung cautioned that its actual revenue might vary by up to 1tn Won and operating profit might vary by up to 200bn Won. Samsung is expected to release its financial results for 2012 by the end of January. µ

 

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