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Samsung Galaxy S3 leads firm to record profit

Samsung's profit grows 79 percent thanks to smartphone sales

Samsung has announced a record $5.9bn operating profit for its second quarter thanks to strong sales of its Galaxy smartphones, namely the Galaxy S3.

The $5.9bn sum represents a 79 percent growth compared with the same quarter in 2011. However, the Korean firm's shares fell as investors worry the momentum is peaking, according to the Financial Times.

Samsung Galaxy S3 smartphone

Earlier this year Samsung hit mobile vendor top spot from long standing leader Nokia. Samsung created an iPhone level of hype around the Galaxy S3 which it predicts will have sold 10 million units by the end of this month.

It's not been the smoothest ride for Samsung after struggling to meet demand when the Galaxy S3 in pebble blue was delayed because of its 'hyperglaze' coating. Apple tried, but failed, to ban the Galaxy S3 in the US before its planned launch.

Although Samsung has seen significant growth in its smartphone business, it's not performed well all-round. The firm's memory chips and TV sectors were saw slowing demand and lower prices in the second quarter.

Follow Chris Martin and @PCAdvisor on Twitter.


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