Samsung Galaxy driving record sales and profits

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After Apple, it is Samsung making headlines across the world. The company recently reported a quarterly profit of $7.3 billion. The new figures are almost double the figures for the same quarter last year. Sources suggest its Galaxy range of smartphones to be the major factor in driving the exponential sales and revenue for the company. But there are increasing speculations that this record sales would come to a halt soon with the company spending more on marketing to rival its competitors. The top in the list of rivals include Apple and its latest iPhone 5.

Samsung officials are expecting record total revenues of almost $25 Billion this year. If these figures are anything to go by, then Samsung’s strong 2,06,000 staffs will see higher performance related payouts by the beginning of next year. Moreover, Samsung will have to keep $1 Billion aside if it fails in the appeal before a US Court which imposed $1 Billion as a penalty for damages to Apple for patent infringements by Samsung.

Lee Sun-tae analyst at NH Investments & Securities was stated as saying, “Fourth-quarter profit will be pressured by one-off expenses: performance payouts and some $1 billion in legal provisioning relating to Apple litigation.” The analyst stated that he expects the core income of Samsung to remain stable and any swings in the revenue will depend on how much money Samsung will be spending for its marketing. He also pointed about the possibility of revenue decline by the end of the second quarter next year owing to the global economic slowdown and the slump in computer sales. (Courtesy: economictimes.com)

Samsung value now stands at $197 Billion and has the reputation of being world’s leading maker of TV’s, smartphones and memory chips.

 

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