Samsung Electronics announced its third-quarter financial results for the ongoing year, registering a record-high quarterly net profit partly as a result of its strong sales in the cell phone division.The South Korean handset maker said its July-September operating income for the telecommunications unit was $871 million, 23 percent up compared to the year-ago quarter. The company sold 60.2 million cell phones in the quarter, giving it a 16 percent year-on-year increase from the 51.8 million units shipped in Q3 2008.
The surge in sales was mainly brought by the touchscreen and keyboard devices introduced into developed markets, as well as the key models within emerging markets. They helped pushing its global handset market share from 19.2 percent in the previous quarter up to 20.8 percent – placing it on the No.2 position following only behind the Finnish manufacturer Nokia.
According to Strategic Analytics, this was the first time a vendor other than Nokia has sold more than one-fifth of the world’s handsets since Motorola’s heyday with its RAZR series in 2006.
On a company-wide basis, Samsung posted the highest quarterly profit of $3.14 billion, tripled from a net profit of $1.0 billion a year earlier. It has now recorded three consecutive quarters of net profit after suffering its first loss during the last quarter of 2008 due to the global economic slowdown.
On a company-wide basis, Samsung posted the highest quarterly profit of $3.14 billion, tripled from a net profit of $1.0 billion a year earlier. It has now recorded three consecutive quarters of net profit after suffering its first loss during the last quarter of 2008 due to the global economic slowdown.
For the last quarter of the year, Samsung expects even stronger sales supported by seasonal demand for consumer electronics and demand from emerging markets. The company said its "outlook is positive for further growth as the economic recovery continues into 2010". Other than low-end handsets, Samsung plans to focus on high-end AMOLED touchscreen devices, which run on Google’s Android and Microsoft’s Windows Mobile 6.5 operating systems.
Still, increasing competition from rivals such as Nokia and LG in the mid-range to low-range markets may pose threats to Samsung, as this can lower the average selling price and the profit margin of its handsets.
Tags: Samsung Accessories, Nokia Accessories, Motorola Accessories, Motorola RAZR V3 Accessories, Motorola RAZR2 V9 Accessories, LG Accessories
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