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Samsung Reports Record Profits

by Tom Moccia | November 11, 2010November 11, 2010 10:00 am PDT

Samsung has always been one of my favorite hand held companies, and before I dove into the iPhone pool with the 3G, I always sported a Samsung phone. It’s no surprise that the company has continued to excel in the smartphone realm, but even I wouldn’t have guessed that Samsung would be yielding record profits in the in Q3 of 2010 after a disastrous 2009.

samsung_galaxy_sWith revenues of $35.8 billion Samsung had a great quarter for gross numbers, and before you claim profits are what really matters, it saw profits of $3.96 billion. Although all these revenue and profit numbers are not the work of the mobile communications division alone, strong semiconductor performance accounted for most of the good fortunes, the mobile division did sell 71.4 million phones in Q3 2010.  This is a 19 percent increase from the Q3 2009 numbers and are virtually unheard of in the cellular industry.

CNN money reports that between five and seven million of those phones were of the Galaxy S variety, and projections are that Samsung will sell ten million of those models by the end of the year. Samsung cautions its shareholders saying that Q4 may not be as jubilant considering price pressures for LCD monitors and DRAM will be very market sensitive this holiday season.

All things considered Samsung executives and investors have to be pretty happy with the financial performance of the last twelve months and if they continue to produce quality products, most notably, smart phones, revenues and profits will continue to climb.


Tom Moccia

Tom Moccia is a native of Stamford, Connecticut and moved his family west in 2000 and now calls Stockton, California home with his wife and two...

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