Samsung Continues to Profit from Apple

Samsun galaxy s3 phoneSamsung Electronics' most recent quarterly results offered yet more proof that the South Korean company is the only viable smartphone company other than Apple Inc. (NASDAQ: AAPL), and also that it has continued to make advances across a number of other parts of the consumer electronics arena. In its report the company stated:

Samsung Electronics Co., Ltd. today announced its earnings guidance for the fourth quarter of 2012.
Consolidated sales: Approximately 56 trillion Korean won (Range: 55 – 57 trillion Korean won)
Consolidated operating profit: Approximately 8.8 trillion Korean won (Range: 8.6 – 9.0 trillion Korean won)

Translated into U.S. dollars, and with additional information about the success, The New York Times reports:

Samsung Electronics projected Tuesday a profit of $8.3 billion in the quarter that ended last month as demand picked up for the flat screens it makes for mobile devices, including those for products sold by Apple.

How many firms make money off of their most mortal enemies?


Filed under: 24/7 Wall St. Wire, Consumer Electronics, Wireless Tagged: AAPL

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