Samsung made headlines today after it estimated its second-quarter profit will come in at $8.3 billion, up 47 percent from the same period last year. But the record quarter wasn’t enough to assuage the fears of investors, and shares sank more than 3 percent on fears that its smartphone business may have peaked, as Reuters observed.

Several mainstream news outlets are drawing parallels between Samsung and Apple, noting the increasing competition at the high end of the smartphone market and predicting that the popular Galaxy brand may be wearing thin. Meanwhile, Fortune.com‘s Philip Elmer-DeWitt opines that Samsung may be “in a mess of its own making” because it has become so dependent on smartphone sales and has spent heavily to push those devices.

Those are all legitimate observations, of course, but I think Samsung is making some shrewd moves that will only boost its mobile business. The company is looking to capitalize on the BYOD trend in the enterprise by creating a line of Android-based devices and services focused on security and messaging. And it has partnered with EA to aggressively bulk up its portfolio of Android apps in its own app store. Samsung may never be able to duplicate the alchemy that produced the Galaxy brand, but there are some important reasons to believe it will continue to thrive in the smartphone business.