South Korean electronics giant Samsung has just released its pre-earnings guidance, reporting an estimate of consolidated earnings for the second quarter of year 2012.
According to the brief press release issued by Samsung on its official website, the total consolidated sales for Q2 ’12 approximately amount to a mammoth 47 trillion Korean Won (more than US $41 billion). The total consolidated operating profit for Samsung approximates to 6.7 trillion Won (almost US $5.9 billion). A considerable portion of the sales can be attributed to its latest and ultra-powerful flagship smartphone Samsung Galaxy S3, which has been flying off the shelves like hot cakes.
These latest statistics are especially impressive from investors’ point of view. A little over two months ago, we reported Samsung’s Q1 earnings in which Samsung recorded a total operating profit of around US $5.17 billion. This means an increase of more than $0.7 billion for Q2 as compared to the previous quarter’s OP, thus breaking Samsung’s own record.
Reuters reports that Samsung sold a total of around 50 million smartphones in the second quarter of 2012 and its profits for the next one expected to soar even further.
Current quarter mobile profits are expected to forge further ahead as the latest Galaxy model enjoys a boom before the next iPhone launch. Samsung’s overall third-quarter operating profit is likely to be between 7.3 trillion won and 9.1 trillion won, an increase of as much as 36 percent from the second quarter, according to a Reuters survey of 14 analysts. The mobile business brings in more than 70 percent of Samsung’s earnings.