Samsung has revealed its profits for the third quarter are on target to surpass estimates made by analysts thanks to the booming smartphone market.
According to an article on the Financial Times, the company has told investors that its performance in the third quarter will be up to the mark thanks to its smartphone business.
Samsung’s positive outlook indicates that Apple’s legal assault on its Galaxy line of smartphones has not affected its smartphone sales.
The company estimated that it made $3.5 billion in profits during the July-September quarter. The guidance is 14 percent lower than the third quarter last year because the slump in its chip and display due to a low demand for televisions.
But the estimates provided by the company behind the popular Galaxy Tab tablet device are 12 percent more than what it had achieved in the previous quarter.
“I’m quite amazed. It seems like there was a big surprise on the smartphone side,” a Seoul based analyst said, expressing his surprise over the estimates.