GOLD 0.51% $1,391.7 gold futures

samsung gold demand...

  1. 650 Posts.
    Samsung are now selling 93m handsets a quarter...

    http://www.bloomberg.com/news/2012-05-02/samsung-no-1-raises-pressure-on-apple-for-iphone-choices-tech.html

    The rough estimate of gold in a normal nokia phone is .034 grams, I would guess there is more in a smart phone but we'll go off the lowest estimate.

    http://quezi.com/4835

    93m x .034g = 3.162 tons of gold

    So Samsung now has a need for over 12 ton of gold per year.

    Thats just 1 phone making company. Don't forget they can't buy a peice of paper and stick it in their phones, they must actually buy the physical stuff.

    Makes you wonder doesn't it...
 
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