Samsung Ships 85m Smartphones, Turns $2bn Profit
Samsung Electronics is the latest company to release its earnings for the just completed quarter and the numbers are good. The company rebounded from two years of falling profits with an 82% improvement in year on year income - a profit of $6.5bn.
That compares reasonably well with Apple's $11bn return for its final quarter of FY 2015, as reported earlier in the week.
Looking at smartphones, Samsung shipped 85m, compared to Apple's 48m. Both are being caught by Huawei, which is racking up the kind of sales growth that gets a company noticed - 26m to take third place in the market.
Samsung made a profit of $2.1bn from its Smartphone business - rather giving the lie to the claim Apple is the only company making a profit from smartphones.
The remainder of Samsung Electronics profits came from its hugely successful chips business, no doubt helped by strong iPhone sales, as Samsung is one of two suppliers providing the power behind Apple's device.
When the two companies report in January I'm expecting the sales figures to be a lot closer - Apple traditionally does very well in the Christmas quarter, whilst rumours of an early launch of the Galaxy S7 - perhaps in January - are bound to slow sales of higher end Samsung phones.