Smartphone sales: Samsung profits surge 79% boosted

According to Samsung Electronics, it expects its profits to surge 79% in the second quarter as sales of its smart phones continue to grow. Samsung overtook Nokia as the world's largest maker of mobile phones earlier this year. Samsung launched the Galaxy S III, the latest version of its Galaxy range of smart phones, in May this year, and the gadget has been well received in the market. The opinion of Park Jong-Min a fund manager with ING Investment Management is that we expect a alteration in Samsung's earnings in the fourth quarter, as the launch of the new iPhone will lead to a decline in Samsung's profit in the high-end Smartphone business.

  

Earlier this month, a court banned sales of Samsung's Galaxy Nexus Smartphone and also its Galaxy Tab 10.1 tablet PC in the US, until it decides on the continuing patent case between the two firms. But Analysts said the biggest fear for Samsung is that the dispute may become bigger and impact other Samsung products, including the Galaxy S III.

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Samsung overtakes Apple as No. 1 Smartphone Seller

Samsung Electronics Co. overtook Apple Inc. (AAPL) in the last quarter to become the world’s largest smart phone vendor along with a widening technology and legal battle between the two companies.

Samsung shipped 27.8 million smart phones in the last quarter, taking 23.8 percent of the market, Milton Keynes, U.K. - based Strategy Analytics said in an e-mailed statement today. Apple’s 17.1 million shipments, comprising 14.6 percent of the market, pushed the Cupertino, California-based company to second place. Nokia Oyj (NOK1V) maintained its third position, according to the statement.

Apple, which released its iPhone 4S this month, held the top spot for only one quarter after dislodging Espoo, Finland- based Nokia earlier this year. Samsung, based in Suwon, South Korea, has turned to Google Inc. (GOOG)’s Android software to boost sales of its Galaxy smart phones and tablet computers.

“Samsung’s rise has been driven by a blend of elegant hardware designs, popular Android services, memorable sub-brands and extensive global distribution,” Strategy Analytics wrote. “Samsung has demonstrated that it is possible, at least in the short term, to differentiate and grow by using the Android ecosystem.”

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