Samsung has released its Q2 estimated financial report and it shows a soaring sales report.
Thanks to the company's Galaxy smartphone line, the Korean electronics giant has reached a record $5.9 billion operating profit. Samsung also provides estimation of $41.5 billion worth of sales during Q2 2012.
The current report shows a significant improvement for the company as Samsung's official Q1 2012 profit was $5.1 billion US.
Samsung has released the next generation Galaxy smartphone, Galaxy S3, in May and though the phone has still not released worldwide, it's certainly one of the biggest reasons for the company to mark its record profits. And, according to a Samsung executive, Galaxy S3 will hit the 19 million mark in Q3.
Speaking about the Galaxy S3, an unnamed Samsung executive told Reuters that Samsung's biggest worry is the current Euro crisis:
"Europe is our biggest consumer electronics market and we may have to initiate cost cuts and product price increases should the euro fall further from the current level. Our smartphones are flying off the shelves, with some outlets reporting 40-60 percent sales growth, but that's distorting the overall trading outlook which is more challenging due to the weak global economy and a weak euro."
Meanwhile, Apple is also gearing up to launch its next generation iPhone and with the launch of the phone, growth of Samsung's smartphone might see a downtrend but its semiconductor business will still be soaring as the company will be providing screens and Exynos-based quad-core chipset for Apple's iPhone.
Microsoft and Nokia will report their financial results on June 19 while AT&T and Apple will announce their results on the 24.
Samsung will release its official results on July 27.
