Earnings: Samsung Will Exceed Its 200 Million Cellphone Target This Year

Samsung, the second-largest handset maker after Nokia (NYSE: NOK), said today in its second-quarter results that it plans on breaking its full-year sales forecast of shipping 200 million cellphones. It also estimated that handset demand would increase 5 percent in the current period, reports WSJ.

In Q1, the South Korean company shipped 52.3 million phones, increasing both 14 percent for the quarter and the year-ago period. Sales were bolstered by new products in both developed and emerging markets, the company said. Samsung’s cross-town rival, LG (SEO: 066570), reported yesterday that it sold 29.82 million phones in Q2, setting a all-time record.

The two handset makers may be winning away marketshare from Nokia, which estimated earlier this week that its market share fell to 38 percent in Q2 from 40 percent a year ago. In Q2, Nokia shipped 103.2 million units, down 15 percent year on year and up 11 percent sequentially.

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2Q 2009 2Q 2008 Analysts’ Estimates For 2009
Net Income KRW2.25 trillion ($1.8B) KRW2.14 trillion ($1.7B) KRW1.84 trillion ($1.48B)
Revenue KRW32.51 trillion ($26.1B) KRW29.1 trillion ($23.4B)