Samsung Electronics Co. is feeling quite ambivalent as to whether there is cause for a celebration or concern.  Their smartphones are selling extremely well, better than expected, actually.  Their high-end smartphone Galaxy SIII is flying off the shelves and they had a bit of a struggle in keeping up with high demand for the device.  They expect to hit 19 million Galaxy SIII shipment this quarter.

On the other hand, the chips and consumer electronics side of their business is in a bit of a rut as the euro continues to fall.

“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,” said one executive who didn’t want to be named as the plan is internal.

“Our smartphones are flying off the shelves, with some outlets reporting 40-60 percent sales growth, but that’s distorting the overall trading outlook which is more challenging due to the weak global economy and a weak euro.”

But that’s not what you really want to read about, right?  Let’s hear about Samsung’s other successful gadget, the Galaxy Note.  Looks like we’ll get the sequel later on this year.

MK Business News claims that Samsung will be unveiling the Galaxy Note II at the IFA 2012 in Berlin, Germany which will start on August 31 until September 5.

The Galaxy Note II is rumored to have a 5.5” screen but the size of the whole device would still be the same as the original Galaxy Note.  It will be equipped with a quad-core processor so the device would perform faster, and that the camera would also be improved.

“There are also talks of Improving the Resolution to 12.0 or 13.0 megapixels Camera, up from current 8.0 megapixels, but the interim on this May be Changed other factors. It will not, however, showcase the unbreakable plane (UBP) display technology, a precursor to the flexible display. UBP Will Most likely be Applied for the Next Product Released after Galaxy Note 2,” said a person familiar with Samsung’s Product Development.

No news yet as to what other features would be present on the Galaxy Note II but the operating software would be Google’s recently launched Android 4.1 a.k.a. Jelly Bean.  Though the device would be revealed at IFA 2012, the device would probably be commercially available either by late September or early October as it would be competing with Apple’s iPhone 5.