Saturday, October 27, 2012

Domination of Smartphone Market taking Samsung towards the Sky

I just read that the shares of Samsung are soaring high, and its profits are going really well. Another importance of this thing is that Samsung's shares are rising when its rival, Apple's shares are hit. In case of Apple, it is said that its financial results failed to meet the expectations of its investors.

Samsung reported net profits for the quarter as $5.97 billion. This is obviously because of exceptional sales of its Galaxy series phones. The overall profits have risen by 91% as compares to the same quarter of last year.

"The business environment remained difficult with global economic uncertainties persisting amid the fiscal concerns in the US and Europe," said Samsung Senior Vice President Robert Yi.

"However, we continued to break our quarterly profit records," Yi said.

"We expect Samsung will deliver solid earnings growth with product leadership in the consumer branded business, smartphone and TV, and enhanced bargaining power in the component business, semiconductor and display panel," Citi said in a report.

Samsung shipped a total of 56.9 million smartphones out of the total 162 million smartphones sold globally. It is a 35% share, which is massive for a company.

Galaxy Note II and Galaxy S3 can be said to be the main force behind company's exceptional growth. And I'm already in love with Samsung's Note II ;)

Is this just the beginning of Samsung's march to conquer the market of Smartphones? May be, the recently lost judgement is providing Samsung with some kind of Nitro boost!! :D

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