South Korean consumer electronics giant, Samsung, has given out preliminary earnings guidance for the fourth quarter of 2012 and stockholders should be pleased to know that the maker of the Galaxy SIII smartphone expecting another record quarter. According to Samsung the figures coming in should be approximately 8.8 trillion Korean won or $8.3 billion of consolidated profits on approximately 56 trillion Korean won or $53.6 billion in consolidated sales.
The expected figures are better than the third quarters 8.06 trillion Korean won and the previous year’s 4.66 trillion Korean won. Samsung’s anticipated consolidated revenues for fiscal year of 2012 should be around 201.05 trillion Korean won or $189 billion. Operating profits are also expected to be a whopping 29.01 trillion Korean won or $27.2 billion.
Reports from Reuters indicate that Samsung claims it had a blistering pace of sales which equal 500 mobile handsets being sold ever minute int he fourth quarter. The manufacturing side of the business also had impressive gains with the sales of cons flat screens increasing.
Reuters also stated that investors are expecting Samsung’s five quarter run to slow down in the first quarter of 2013 due to “weaker seasonal demand” for smartphones which are considered the Korean giants “biggest earner”. Kim Sung-soo, a fund manager for LS Asset Management has been quoted as saying that, “Investors are a bit concerned that Samsung’s momentum may slow in the first half. The smartphone market is unlikely to sustain its strong growth as advanced markets are nearing saturation despite growth in emerging countries.”
Source: TechCrunch
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