Samsung Reports Large Profit Increase on Smartphone Demand
Samsung Electronics reported a large increase in profits that easily beat analyst estimates. The largest Asian consumer-electronics maker beat estimates by selling more phones than even Apple (AAPL) . Not that this is new to most investors, but Samsung has become a very formidable competitor in the smartphone market. Also, assuming Apple enters the TV market as expected both companies will go head to head in that market as well. The real question remains whether people are buying Samsung phones over an iPhone or as the best option available or for the price. Either way, it definitely shows where consumers are buying phones instead of Nokia (NOK) and Research in Motion (RIMM) . Without doing much research, I'm assuming most of the gains come from Asian markets and not North America. With most of my friends owning iPhones, its difficult to assess the Galaxy as a true threat to the iPhone. Bloomberg West did a nice piece the other night about the margins on the two phones. T...