Samsung claims to have sold tens of millions of its Galaxy series of smart phones and boosted third quarter profits to a record high of $7.3 million.
The company had a good third quarter and best ever profit. It marked the fourth straight quarter of record profits for the Korean electronics maker. Samsung’s results were buoyed by sales of its Galaxy smart phones.
Samsung does not report hard sales figures of its cell phones, but analysts estimates have put the number between 58 to 60 million. As many as 18 to 20 million of those unit sales are Samsung’s flagship Galaxy SIII smart phone, which is out for sale since May. As a point of comparison, Samsung sold around 50 million handsets during the second quarter of 2012.
Samsung’s smart phone business is responsible for around two-thirds of the company’s $7.3 billion of profit. The strong sales of Samsung’s cell phones has helped to balance in other businesses like profits from its DRAM chip business dropped 14 percent during the third quarter thanks to fewer orders from its customers. The falling demand for its laptop and other computers dampened third quarter earnings further.
The Galaxy Note II, which is a significant improvement when compared to its previous model will hit US shelves in November. It will be sold by AT&T and Sprint.