Due to debt crisis in Europe, Samsung Electronics, the technology giant of South Korea, is quite worried for its hollowing demand in regard to televisions and other home appliances. But on the other hand, its smartphone Galaxy is flying high, meeting the expectations of consumers and company both. It has recently recorded a quarterly profit of $5.9 billion, which is highly appreciable.

In fact, in a very less period of time, the flagship Galaxy smartphones have won its position from rivals Apple and Nokia. Though there is a shortage of its parts in the market, still its latest model S III has struggled to keep up with its stronger-than-expected demand.

This handset has grabbed a strong sale target due to which there has been noticed almost a double profit but then Samsung’s other businesses are battling to survive. Due to this, the entire profits get balanced with the losses and the company is not left with much to grow. Reason: euro zone crisis.

To overcome this problem, Samsung is planning to launch a contingency plan with which it hopes to improve the condition.

As said by one executive, "Europe is our biggest consumer electronics market and we may have to initiate cost cuts and product price increases should the euro fall further from the current level".