Samsung Sells Ten Million Galaxy III Phones

By Douglas A. McIntyre Published Jul 23, 6:29AM EDT

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Samsung management said the sales of its flagship Galaxy S III smartphone reached 10 million in the first two months it has been on the market. That pace may not be quite as fast as iPhone sales when Apple (NASDAQ: AAPL) releases a new version. But, for the American company, they are uncomfortably close. Samsung’s handset has received positive reviews, many of which say that the Galaxy S III is a true competitor to the iPhone.

And the Samsung product runs on superfast 4G networks, which the current generation iPhone does not. If the new iPhone is not introduced by fall, Galaxy S III sales could reach 15 million or better. Then, Apple will need to hope that some Samsung customers will abandon their new handsets and come back to Apple. Because of the cost of a transfer, many will elect not to do so.

Douglas A. McIntyre

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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.