Samsung ups profit forecast after smartphone success

Lawsuits? What lawsuits?

Samsung's never ending patent spat with Apple doesn't seem to be hurting the Korean company too much, as it has issued a better than expected profit forecast for the third quarter.

Although demand for televisions and computer hardware has fallen, Samsung's smartphone and tablet sales are on the up and up, leading to a prediction of £2.3bn operating profits.

That's despite agreeing to pay Microsoft royalties on every Android device it sells and having injunctions against it selling the Samsung Galaxy Tab 10.1 in several countries.

Put the party poppers away

It's not all champagne and confetti though; the company's profits are still down 14% compared to the same quarter last year.

The pricing for TVs spiralling ever downwards and the economic problems in the US and Europe have hurt Samsung's bottom line.

But with another major smartphone due to launch before the year is out, as well as the lucrative Christmas shopping period on the horizon, things could be looking up for the company.

From BBC

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