Samsung reports record profits thanks to Galaxy S3

Samsung reports record profits thanks to Galaxy S3
So long and thanks for all the S3s

Good times over at Samsung HQ where record profits for the company have just been confirmed; its mobile phone business raked in 93% more for the three months ending in September 2012 than a year ago.

The dazzling company figures come in at 8.10 trillion won operating profit (that's around £4.5 billion, AU$7.1 billion, US$7.3 billion), comfortably beating analysts' estimates.

That ridiculous bank balance is largely thanks to the Samsung Galaxy S3, launched in May, and Samsung Galaxy Note which both had a strong quarters.

It comes as no great surprise that the Galaxy S3 raked in so much cash; it hit 20 million sales in under 100 days with Europe leading the S3 way by scooping up 6 million of them.

Trouble ahead

It's not all champagne and diamond necklaces for the company though; other areas of the business are struggling as the effects of reduced orders for chips and screen displays are felt.

One big customer, at least, is cutting back: Apple. The two companies are slowly but surely severing ties after a year's worth of vicious patent battles and sniping adverts around the world.

Another Apple-effect that Samsung will have to account for in the future is the $1 billion court payout that it is currently appealing against. But hey, what's $1 billion when you have another $6.3 billion burning a hole in your bank vault?

From Reuters

News Editor (UK)

Former UK News Editor for TechRadar, it was a perpetual challenge among the TechRadar staff to send Kate (Twitter, Google+) a link to something interesting on the internet that she hasn't already seen. As TechRadar's News Editor (UK), she was constantly on the hunt for top news and intriguing stories to feed your gadget lust. Kate now enjoys life as a renowned music critic – her words can be found in the i Paper, Guardian, GQ, Metro, Evening Standard and Time Out, and she's also the author of 'Amy Winehouse', a biography of the soul star.