Samsung predicts 90 per cent profit rise on last year

Earnings guidance for Q3 probably pushed up by smartphone sales despite Apple battle

Electronics giant Samsung has announced it expects to boost its consolidated operating profits by almost 90 per cent to 8.1 trillion won (£45bn) in the quarter ending 30 September 2012, compared with a year ago.

The South Korean company noted that it expected to reap 8.1 trillion won for Q3 this year, up from 4.25 trillion won in Q2 2011.

Samsung said it has has gone on making significant gains in both revenue – which expanded to 52 trillion won in the quarter – and profits throughout the period.

"The guidance is provided ahead of the full announcement of quarterly earnings results for the convenience of investors and media, before our external audit on the financial results of our headquarters, subsidiaries and affiliates is completed. Therefore, the above estimate may differ from the actual results," the company added.

Samsung plays across semiconductor, telecommunication, digital media and digital convergence markets, and last year enjoyed consolidated full-year sales of 15.9 trillion won. It has 206,000 staff in 197 offices across 72 countries.

Analysts have said that Samsung's continuing good results are underpinned by the ongoing success of its Galaxy smartphones – as reported on ChannelWeb.

Samsung is continuing a fight against Apple in the US courts over alleged patent infringement which relates to the former's smartphones. So far, Apple has been awarded $1bn (£617.8m) in damages but Samsung has requested a new trial.