Samsung posted record profits in the second quarter, buoyed by the arrival of a new flagship Galaxy phone and continued strong sales of its older handsets.
The consumer electronics giant recorded profits of £3.8 billion in the period from May to the end of June, representing a rise of 77 per cent from the same quarter last year.
The strong showing in the smartphone sector was driven by the release of the long-awaited Galaxy S3, which accounted for 60 per cent of Sammy’s Q2 profits and which analysts estimate made up 6.5 million of the 50 million or so handsets Sammy sold over the course of the quarter.
News of Samsung’s ever-stronger challenge to Apple comes as it becomes more and more embroiled in a courtroom contretemps over alleged patent infringements with its California-based rival.
According to analysts, it is this, rather than the threat from Android rivals that could spell trouble ahead for Samsung, especially after Apple has had some success with getting Galaxy products withdrawn from sale – albeit briefly.
Kim Young-chan of Shinhan Investment said: "The biggest risk Samsung is facing might be patent issues, as stocks can respond negatively to this uncertainty.”
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