Smartphone sales: Samsung profits surge 79% boosted

According to Samsung Electronics, it expects its profits to surge 79% in the second quarter as sales of its smart phones continue to grow. Samsung overtook Nokia as the world's largest maker of mobile phones earlier this year. Samsung launched the Galaxy S III, the latest version of its Galaxy range of smart phones, in May this year, and the gadget has been well received in the market. The opinion of Park Jong-Min a fund manager with ING Investment Management is that we expect a alteration in Samsung's earnings in the fourth quarter, as the launch of the new iPhone will lead to a decline in Samsung's profit in the high-end Smartphone business.
Earlier this month, a court banned sales of Samsung's Galaxy Nexus Smartphone and also its Galaxy Tab 10.1 tablet PC in the US, until it decides on the continuing patent case between the two firms. But Analysts said the biggest fear for Samsung is that the dispute may become bigger and impact other Samsung products, including the Galaxy S III.

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