Home Technology Samsung Galaxy S III Reaches 9 Million Pre-Orders

Samsung Galaxy S III Reaches 9 Million Pre-Orders

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Samsung Galaxy S III Reaches 9 Million Pre-Orders
Samsung has been a very close competitor of Apple Inc. (NASDAQ:AAPL). The two have taken each other to court and back numerous times over talks of copyright infringement on their flagship phones: Apple iPhone and Samsung Galaxy.

Investors and followers of Apple are expecting a new iPhone in October which is expected to be a huge winner, as always.  However, Samsung is quietly racking up a following for its Galaxy smartphone.

Earlier this year, Samsung said they had hoped to sell 10 million units of its new smartphone-tablet, the Galaxy Note.  So far, the Note has sold 5 million units in March and definitely puts the company on par with its estimates.

However, new reports have come out which tell us that the company’s much anticipated Galaxy S III has already sold 9 million units in presales, according to the Korea Economic Daily.  This has caused Samsung’s factory in South Korea to work at full capacity of 5 million units per month as the company anticipates high demand for its flagship phone.

Germany will get to use the phone first as the phone will be released there first on May 29th.  The Galaxy S III is expected to arrive in the United States this summer, right before the iPhone 5.

This is huge news for the mobile phone industry as Apple’s dominance continues to be challenged by Samsung.  However, Apple is still one of the fastest growing mobile phone companies out there and will continue to exert its presence as they expand further into China and other key countries.

As I stated in an article that was published yesterday, Apple is trading at the lower end of its spectrum which seen a good deal of institutional buying and support.  I do not expect shares to trade cheap for long however, with Facebook IPO and impending European collapse, we could see cheap shares into summer.

Samsung continues to deliver great phones which is something that Apple should watch but not panic about.  Samsung is a good company but I think Apple’s new found connections in China will help put the company further ahead of its competitors.

The bottom line is that Samsung’s phones are selling big right now which is putting a lot of pressure on Apple when they release the iPhone 5.  We will see how Apple responds to Samsung’s Galaxy S III later this year.

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Sheeraz Raza

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