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Samsung expects higher Q2 handset earnings

Samsung Electronics has said it expects sales of its new Galaxy S III to top 10 million during July, making it the South Korean group's fastest selling smartphone, Reuters has reported. Samsung launched its first Galaxy model two years ago in a rush to counter Apple's iPhone success. Then, Samsung's smartphone market share was below 10%. It has since overtaken Apple, and the company said in late April that new Galaxy smartphones would "substantially contribute" to second-quarter results. Samsung sold 44.5 million smartphones in January-March, equal to nearly 21,000 every hour, giving it 30.6% market share, while Apple sold 35.1 million iPhones, taking 24.1% market share.