
Kim
Hyun-joong, a fund manager at Midas Asset Management, said, “In the
handset division, Samsung has no real rival models to challenge its
products except for the iPhone 4S.
Apple and Samsung will continue to dominate the market in the fourth quarter.” Midas Asset Management owns Samsung shares.
Apple and Samsung will continue to dominate the market in the fourth quarter.” Midas Asset Management owns Samsung shares.
Shipments of smartphones increased 44% from the
previous quarter to 27.8 million units, nearly four times the amount
shipped a year ago The profits from the company’s telecoms division
more than doubled from a year ago to 2.5 trillion won ($2.2 billion) and
accounted for around 60% of Samsung’s total profit. The increase in
profits offset a plunge in earnings from its memory chips division.
Apple
sold fewer phones in the third quarter, missing expectations for the
first time in a year. Apple’s iPhone sales decreased by 16% to 17.1
million units in the third quarter, as customers resisted purchasing
iPhones until the October launch of the newest version of the device.
Samsung captured 23.8% of the global smartphone market in the third
quarter, beating Apple by 9 points.
Samsung said its
fourth-quarter earnings could be more impressive than the third,
heightened by one-time gains from a $1.4 billion sale of the company’s
hard disk drive division to Seagate Technology. The company released an
earnings statement stating, “Looking ahead into the fourth quarter,
when industry demand is traditionally at its peak, Samsung expects sales
of mobile devices to remain strong and flat-panel TV shipments to
increase.”