Samsung earlier today provided guidance for its April to June quarter ahead of the announcement of its financial results later this month. It expects to announce a record quarterly profit of US$5.9 billion and attributes much of this to the success of its Galaxy line of smartphones and the Galaxy S III in particular. Revenues are estimated to come in at about US$41.4 billion.
You only have to look back one quarter to find Samsung’s previous profit record. If the numbers hold, the new record will mark a 14.5% improvement. It would also be a 77% improvement over the same quarter a year ago.
Samsung’s mobile division will account for about 70% of earnings with profits nearly doubling over the last year. Smartphone sales could top 50 million (or 380 handsets every second). Samsung expects that cumulative Galaxy S III sales alone will top 10 million units in July.
Upcoming quarters could be more difficult for Samsung (and other companies). It is particularly worried about the effect of the European debt crisis on sales of its televisions and home appliances.
Read more: Reuters