Samsung posts record profit,  Galaxy S III to hit 19M sales in Q2

Samsung hasn’t released its full Q2 financial report yet, but it unveiled some salient details on its performance. Largely thanks to the Galaxy line of Android smartphones, Samsung's profit reached a record $5.9 billion (up 79% year on year). Executives expect it to grow even further, 36% quarter-on-quarter for Q3.

Samsung's mobile division is responsible for over 70% of the company's earnings. In the second quarter of this year, the Korean giant sold around 50 million smartphones and expects profits to have doubled, reaching $3.87 billion.

One Samsung exec predicts that sales of Galaxy S III flagship will hit the 19 million mark in Q3, growing in the absence of a new iPhone.

When the new Apple smartphone inevitably comes, the growth of the Samsung's mobile division is expected to slow down, but the Korean company's semiconductor business will benefit from the launch as Samsung provides screens and chips for Apple's gadgets (and maybe even an Exynos-based quad-core chipset for the next iPhone).

Samsung's biggest worry at the moment is the Euro crisis - Europe is the biggest market for Samsung electronics and the fall of the euro compared to the Korean won cuts into its profits.

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