Samsung predicts better-than-expect Q3 profit

e14news — Fri, 08 Oct 2021 04:02:52 GMT

Current Revision posted to Documents by e14news on 10/8/2021 4:02:52 AM
Samsung Electronics has announced a better-than-expected profit forecast because of success in the handset market, wireless communication device users may be interested to learn.

The firm said that it is expecting operating profit to hit $3.5 billion (£2.3 billion) for the third quarter of this year – thought to be an increase of 12 per cent on the previous quarter and ahead of market expectations.

It comes after the firm announced that sales of its Galaxy S II tablet had passed the ten million mark.

Jang In-Beom of Bookook Securities told BBC News that Apple's announcement earlier this week – which did not include an iPhone 5 but just a revised version of the iPhone 4 – could be a chance for Samsung to succeed.

"Given Apple's relatively unchanged new iPhone, Samsung will have the opportunity to eat into Apple's market share with its hardware build-up and growing software power until next year," he said.

It comes after Apple and Samsung argued earlier this week over patent use, with the latter claiming Apple is using its 3G wireless technology without paying for it.