Samsung’s profits soar
Between July and September, the firm’s operating income nearly doubled to £4.5 billion. This was up from the £2.25 billion it accrued during the same period last year.
Whether this trend will continue now that the Olympics is over may not be so clear-cut. The Samsung Galaxy SIII was the official smartphone at the Olympics in London.
In the run up to Christmas, some analysts expect that the South Korean firm’s sales are more likely to come from other areas, such as TVs and memory chips, as well as sales of its other smartphones and mobile devices.
It is perhaps not surprising that Samsung’s profits grew tremendously during the last three months. Experts have pointed out that the company spent around $2.7 billion dollars promoting and marketing its Galaxy range in the run up to the Olympics. In short, Samsung was reaping what it sowed.
The growth in profits will also benefit a lot of the company’s staff, who are now expected to receive performance bonuses. Samsung employ 206,000 staff.
While this massive growth in profits for Samsung is obviously good news for the Asian outfit, not everything in its world is hunky dory. The company has been in a constant battle with Apple and may be forced to pay the latter a huge sum in damages if it loses an appeal in the US.