Arab Today, arab today samsung to report record high profit for q2
Last Updated : GMT 12:32:41
Arab Today, arab today
Arab Today, arab today

Samsung to report record high profit for Q2

Arab Today, arab today

Arab Today, arab today Samsung to report record high profit for Q2

Washington - Arabstoday

Samsung Electronics Co., the world’s top maker of mobile phones, memory chips, flat-screen panels and televisions, will release guidance for its second-quarter results on Friday, giving insight into its performance before the disclosure of full results at the end of this month. Even though Samsung is expected to report a record-high operating profit for another quarter on the back of strong demand for Galaxy smartphones, its share price has lost steam since closing at a record high on May 2. Investors have reined in their optimism after the Galaxy S III smartphone experienced a delay in shipments due to component shortages since its May 29 launch. More than 60 per cent of Samsung’s second-quarter operating profit, which may be nearly 7 trillion won ($6.15 billion), is expected to come from its mobile communications division. Analysts, including Lee Sun-tae at NH Investment & Securities, lowered estimates of Samsung’s flagship smartphone sales in the second quarter from 7 million to 6 million phones, after some mobile carriers delayed offering it. Analysts’ estimates of Samsung’s total smartphone sales in the period range between 48 million and 52 million phones. On Friday, Samsung will give an estimate of consolidated revenue and operating profit without giving net profit or a breakdown for each business division.  For the second quarter, investors are expecting to get updates on S III phone sales. They will be also looking for clues about Samsung’s smartphone strategies for the rest of the year as Apple Inc. will probably unveil a new iPhone in the third quarter, heating up competition with the Android-based Galaxy devices. With annual revenue of 165 trillion won ($145 billion) in 2011, Samsung Electronics is the world’s largest technology company by revenue. Its results will be an indicator of demand for consumer electronics from personal computers to televisions in China, Europe and North America and other key markets at a time when the global economy feels the heat of Europe’s debt crisis. Samsung is one of the few handset makers that has expanded its market share and has seen a big jump in mobile profit in the last two years as the South Korean firm lures customers from Research In Motion and Nokia Corp.

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