Samsung estimates record $7.3 billion profit, thanks to the Galaxy S III

Samsung Galaxy S III

While Samsung’s third quarter earnings report isn’t due until October 26, the company today has posted its estimates for the quarter. And they’re a doozy.

Samsung expects to post a record $7.1 billion profit, nearly double its numbers from the same period last year. The company estimates that consolidated sales will come in at $46.7 billion.

Much of that success is certainly due to sales of the Galaxy S III, which was launched in July. Samsung says sales of the phone topped 20 million as of September, so we know that the company has at least sold that many. (Some analysts estimate Samsung sold nearly 58 million phones during the quarter.)

Of course, Samsung’s smartphone’s success is also its biggest risk: Because it gets so much of its revenue from smartphones, releasing a smartphone dud could hurt its bottom line that much more.

Elsewhere, analysts expect that Samsung’s television division greatly contributed to the company’s Q3 bottom line.

But while Samsung’s financial situation is the day’s big news, Samsung’s branding success has also seen a boost.  According to the latest Interbrand brands report, Samsung’s brand value climbed 40 percent over the past year, placing it a spot behind Intel and two steps behind McDonald’s.