Galaxy S III is Samsungís fastest-selling phone in company history
The Samsung Galaxy S III smartphone
The Samsung Galaxy S III smartphone launched more than a month ago has become the fastest-selling smartphone in the South Korean technology giantís history and is on track to reach 10m in sales in July.
Samsung chairman JK Shin predicted that profits from Samsung Mobile will be higher in the current second quarter than in the previous January to March quarter.
According to Reuters, Shin predicted the higher profits despite challenging market conditions in the Euro zone and a tight supply of components.
Samsung Mobile reported profits of US$3.6bn – 73pc of Samsung’s overall profit – in the January to March quarter.
But the big question next is can Samsung keep up with supply, particularly in markets like the US, where already carriers such as Sprint Nextel, T-Mobile and AT&T have been unable to keep up with demand for 32GB versions of the Galaxy S III?
Shin has attributed the situation to reviews with higher praise for the S III than previous devices and the inability of suppliers to meet “soaring demand.”