Andre Yoskowitz
5 Oct 2012 0:39
Despite Apple reducing orders for processors and display, Samsung posted a massive $7.3 billion quarterly profit, a record for the company.
Samsung says sales of high-end HDTVs and Galaxy smartphones more than helped offset Apple's decision to look elsewhere.
The company does expect to have slightly lower profit next quarter, as marketing budgets are expected to go up, and performance bonuses to their 200,000 staff members will add up. Samsung is said to have spent $2.7 billion in advertising/marketing for the last quarter alone, mainly on their Olympics and Galaxy campaigns. Additionally, the company may have to put $1 billion aside to pay Apple after losing their patent dispute in the U.S. in late August.
Smartphone shipments totaled 58 million during the quarter, with 22 million being S III units.
The company expects a full year profit of about $24 billion, a record for the company.