Samsung are among the top makers in the world when it comes to TVs and smartphones. According to BusinessWeek, they have reported profits that beat what analysts estimated, which widens the gap between them and Apple in regards to sales.
Samsung Galaxy phones exceed sales expectations while iPhone 5 falls below.
Profits rose 91% to $7.3 billion in the three months which ended in September. The average of estimates from 32 analysts was 7.58 trillion won only.
Earnings surged 93% in May with the release of the Samsung Galaxy S3 and the Galaxy Note. This news was released following a survey by Bloomberg of six analysts. This helped the slump in profits that the company had from selling their chips for computer memory.
An analyst for Shinhan Investment Corp said that the shipment of smartphones had increased by a lot and this has eased the worries of market spending eating away at the profits.
The Q3 sales of Samsung were more than 52 trillion won according to Samsung when they released a statement. This was in comparison to an estimate of 51.6 trillion won. It is thought that operating profits may be 200 billion won or maybe even higher or perhaps lower than the estimate; however we will have to wait and see the audited results, which will be revealed later in the month. Samsung have said that they do not give out net income figures, nor do they breakdown their divisional earnings.
Meanwhile Samsung’s largest business, the telecommunications division, saw Q3 operating profits doubled to 4.78 trillion won, following sales that increased 80%. This was according to a survey by Bloomberg news.
As for Apple, while the iPhone 5 saw a record number of preorders, the sales weekend fell below analyst estimates. The recorded 5 million iPhone 5 sales during its launch weekend was below the 6 million onwards that was predicted.