Samsung’s (PINK: SSNLF) Galaxy SII will outsell any smartphone the South Korean electronics giant has previously released. It expects that by July, 10 million units will have been placed in customers hands.
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It remains unconcerned about economic instabilities and supply chains eating into its bottom line, says Shin Jong-Kyun, President of IT and Mobile Communication at Samsung:
“The overall market condition was challenging due to eurozone issues and tight supply of components… but (our) second-quarter results will be better than the first quarter.”
Despite profits in Samsung’s mobile division almost tripling from January to March, analysts disagreed with Jong-Kyunn, downgrading the second-quarter earnings estimates.
Prompting the downgrades are fears that other products in Samsung’s mobile line have fallen of a cliff since the SIII’s introduction. The lowered expectations promptly sent shares to a four-and-a-half month low.