Samsung expects worldwide shipments of the new Galaxy S3 to top 10m in July. Photograph: Lee Jae-Won/Reuters
Samsung says it expects worldwide shipments to carriers of its new Galaxy S3, launched at the tip of could as a top-end rival to Apple's iPhone, to prime 10m in July, creating it the South Korean group's fastest selling smartphone.
Samsung's mobile business president, Shin Jong-kyun, said on Monday that the Galaxy S3 would reach the milestone 2 months when its launch, and be on sale from nearly three hundred mobile carriers round the world by the tip of July.
The figures mirror shipments of the devices to carriers, not customers; in contrast to Apple, that is ready to record activations of every iPhone by an end-user, Samsung doesn't disclose sales figures to customers.
Shin additionally predicted earnings from its handset division would be higher within the current second quarter than in January-March, countering market issues that tight provides of the new Galaxy model and therefore the weak international economy would pressure earnings at Asia's most respected technology firm.
Shares in Samsung dropped quite four-dimensional on Monday to a four-and-a-half month low, when additional brokers cut their quarterly profit outlook, citing issues over the electronics giant's chip and telecoms businesses. The benchmark KOSPI stock index was down one.6%.
"The overall market condition was difficult thanks to eurozone problems and tight offer of parts ... however [our] second-quarter results are going to be higher than the primary quarter," Shin said.
Profit from Samsung's mobile division nearly trebled in January-March to $3.6bn (£2.3bn), accounting for seventy three of cluster operating profit.
Samsung launched international sales of its Galaxy S3 on twenty nine could, however shipments are full of the tight offer of elements like the handset casing for the pebble-blue model. The S3 comes in blue or white models.
"Supply remains terribly tight thanks to sturdy demand and part shortages, however we have a tendency to expect overall offer conditions to enhance from next week," Shin said.
Samsung said in late April that new Galaxy smartphones would substantially contribute to second-quarter results. Samsung overtook Nokia because the world's biggest mobile-phone maker in 2011 and competes with Apple for the highest smartphone maker position.
It aims to double its smartphone sales this year to almost 200m phones.
Analysts have downgraded estimates for Samsung's second-quarter smartphone shipments in recent weeks, predicting that sales of the most recent Galaxy model have triggered a steeper than expected drop-off in sales of earlier product.
They additionally cited tight offer of the S3 model and growing competition from low-end makers like Huawei and ZTE.
JPMorgan cut its forecast for Samsung's second-quarter smartphone shipments by a tenth to 50m units.
Samsung sold forty four.5m smartphones within the 1st quarter, from January to March – equal to almost twenty one,000 each hour – giving it thirty.6% market share of the complete smartphone market, and quite five hundredth share of the Android handset market, in step with researchers.
Apple sold thirty five.1m iPhones, taking 24.1% market share.
Samsung introduced its 1st Galaxy in 2010, 3 years when the iPhone's debut, to counter Apple's roaring success in smartphones and cash in of stumbles at larger rivals Nokia and BlackBerry maker analysis in Motion.
The transportable division is one in every of the foremost profitable inside the Samsung Electronics company, where the chief govt was recently shifted to require over as head of company strategy, amid a legal battle between the 70-year-old Lee Kun-Hee, the previous head, and alternative members of his family who claim in lawsuits that he inherited around $1bn of Samsung assets and hid them in nominee accounts.
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