“We’re getting far better feedback on the model overseas than what we expected with the Galaxy S I and II,” said Shin Jong-kyun, head of Samsung Mobile, when the phone was formally introduced in Seoul on Monday.
Samsung’s failure to procure sufficient mobile components for Galaxy III has raised concerns that the company’s second-quarter smartphone sales could be much lower than expected.
However, Shin promised that the company will resolve the supply issues with mobile components sometime in the next week.
“Despite the tough economic situation in Europe and problems with supplying components for the Galaxy S III, the second-quarter earnings will be better than the first quarter,” he said.
He went on: “We’ve sent executives and staff to almost all our (component) suppliers to ensure a smooth offering and hopefully things will get better from next week.”
Profit from Samsung’s mobile division nearly tripled in January-March period to $3.6 billion, accounting for 73 per cent of group operating profit, reveals Ottawa Citizen.
“Looking beyond its current weakness in the chip sector, it appears investors are also worried that global macroeconomic woes may eat into handset sales in the second half,” said Han Seung-hoon, an analyst at Korea Investment & Securities.
According to The USA Today, shares of Samsung tumbled 4.2% on the Seoul bourse on Monday, closing at a four-month low. The benchmark Kospi index fell 1.2%.
The largest smartphone producer began sales of the Galaxy S III in Europe on May 29 and released the device through all major mobile U.S. carriers last week.
In its home market, the company started sales of the latest iteration of Galaxy earlier Monday.
Last week the review of Galaxy S III was awarded an Editors’ Choice on CNET, receiving four stars out of five possible.
Reviewer Jessica Dolcourt said that the handset is “an excellent, top-end phone,” and includes “high-performing hardware and creative software features.”
Samsung Galaxy S III, which is already available in Europe, is hoping to carry the torch its two predecessors passed, writes CBS News.
Earlier this month, the company announced that 52 million Galaxy S smartphones have so far been shipped worldwide since the original phone’s launch in 2010.
However, there’s bad news for Samsung as well. Last week, the smartphone giant announced that it would investigate a claim made by one Galaxy S III owner that his smartphone burned up.
A user in Ireland has recently posted some images of the Galaxy S3, which features severe burns on the bottom of the device. A “white flame” reportedly burst from the device.
“The phone was destroyed and it slightly burned a piece of plastic on the inside of my car,” the person wrote.
“And they are refusing to give me a replacement; they had to send it off. Probably nothing I can do, but I’m really annoyed. That could have burned the side of my face or through my pocket and my leg, or set fire to my bed. It’s very dangerous.”
“There have been recent online posts displaying pictures of a Samsung GALAXY SIII that appears to have heat-related damage at the bottom of the device,” the company wrote on its official blog.
“Samsung is aware of this issue and will begin investigating as soon as we receive the specific product in question.”