Samsung Electronics will report record quarterly operating profit of around $5 billion US on soaring sales of its Galaxy smartphones and as South Korean firms outmuscle Japanese rivals in TVs and memory chips.
Samsung, whose $184-billion market value is worth about a dozen Sonys, is set to topple Nokia as the global handset leader after 14 years, and its Androidbased Galaxy lineup will have outsold Apple's iPhone as it won users from Nokia, Blackberry maker Research In Motion, Motorola and others.
The South Korean firm, which last year sold close to one in every five smartphones worldwide, should build on that market leadership with the launch in London next week of a third generation of its flagship Galaxy S, backed by heavy marketing ahead of the Summer Olympics. And, while Apple said this week that iPhone 4S sales boosted its quarterly revenue in China five-fold, there are more Samsung handsets than Apple phones in the world's biggest mobile market, said IDC analyst Wong Teck-Zhung in Beijing.
Samsung, led by chairman Lee Kun-hee, said earlier this month its quarterly operating profit will be about $5.1 billion, close to double the year-ago quarter.
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