Samsung Reports $7.4 Billion Profit, Sells 56.3 Million Phones

From DailyTech: Samsung reported strong financial earnings in the third quarter, but now faces slowed smartphone momentum in the future as the market gets more crowded.

Samsung posted $7.4 billion USD in Q3 2012 operating profit. Net profit rose 90 percent to $5.9 billion USD.

During the third quarter, Samsung sold 56.3 million smartphones, giving it a global market share of 31.3 percent. Apple only sold 26.9 million iPhones in the same quarter. The Samsung Galaxy S III alone accounted for 18-20 million shipments from July to September.

While Samsung did well in the smartphone department, particularly with its Galaxy line of devices, it didn't do so hot in chip sales. The chip division dropped 28 percent to $1 billion USD.

Samsung rocked a healthy profit overall this quarter, but many worry that the electronics maker won't see this amount of money rolling in next year as the smartphone market continues to grow competitive.

In fact, Samsung's profit is expected to grow 16 percent next year -- down from this year's predictions of 73 percent.

Samsung has other strong businesses, like tablets and OLED TVs, but analysts say these sectors aren't quite ready to sell the way that Galaxy is selling.

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