Samsung Continues to Profit From Apple

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By Douglas A. McIntyre Updated Published
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Samsung Electronics’ most recent quarterly results offered yet more proof that the South Korean company is the only viable smartphone company other than Apple Inc. (NASDAQ: AAPL), and also that it has continued to make advances across a number of other parts of the consumer electronics arena. In its report the company stated:

Samsung Electronics Co., Ltd. today announced its earnings guidance for the fourth quarter of 2012.
Consolidated sales: Approximately 56 trillion Korean won (Range: 55 – 57 trillion Korean won)
Consolidated operating profit: Approximately 8.8 trillion Korean won (Range: 8.6 – 9.0 trillion Korean won)

Translated into U.S. dollars, and with additional information about the success, The New York Times reports:

Samsung Electronics projected Tuesday a profit of $8.3 billion in the quarter that ended last month as demand picked up for the flat screens it makes for mobile devices, including those for products sold by Apple.

How many firms make money off of their most mortal enemies?

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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