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Samsung registers record profit

Samsung recently overtook Nokia as the largest mobile vendor in the world. And it seems to be on its way to smash a few more records. The company has posted its quarterly earning preview forecast which has pinned the overall revenue of the company at a whopping $41.4 billion.

Out of this, the profits of the company come to a record amount of $5.9 billion, an amount of profit that the company has never been able to amass earlier. One of the key components of Samsung’s success is, without a doubt, its new flagship smartphone Galaxy S  III. The sales of the smartphone were expected to hit 19 million by the end of this quarter.

Samsung’s biggest worry at the moment is the Euro crisis – Europe is the biggest market for Samsung electronics and the fall of the euro compared to the Korean won cuts into its profits. The euro has fallen around 5 percent against the Korean won since April, and about 8 percent in the past year, to 2-year lows.

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