Samsung estimates $7.3bn profit in past 90 days
Samsung is expecting to double the profits this year compared to the same three months to September last year, as sales of its high-end TVs and smartphones continue to rocket.
According to the latest figures from the Korean company, Samsung is set to make $7.3bn profit from the last 90 days of business, making companies such as Nokia, and RIM and their struggling results look as if they're just making excuses.
The company, which will confirm the figures formally on 26 October, says that sales of the Samsung Galaxy smartphone have helped greatly.
It has experienced massive growth over the past year, seeing each quarter beat the previous one. It is a trend the market is unsure Samsung will be able to maintain, however, as it is forced to spend more and more money on advertising.
According to the Reuters news agency, Samsung spent a whopping $2.7 billion on marketing around the London Olympics alone.
However with continued high-profile launches scheduled for this quarter in the run up to Christmas Samsung is unlikely to see its profits dip.
The company is currently launching the Samsung Galaxy Note II in the UK, and has a new Windows Phone smartphone and Windows 8 and Windows RT tablets due at the end of October.
Samsung should also see a lift in laptop sales off the back of Microsoft's Windows 8 launch, also at the end of October.
Add that to sales of the Samsung Galaxy Nexus, the Samsung Galaxy S III, and the possible launch of a Samsung Galaxy S III mini, as well as the usual uplift Christmas provides, and you can see why the company doesn't look as if going to stop growing any time soon.