Samsung profits soar on phones, tablets; high hopes for Galaxy S4

April 26, 2013

Samsung Electronics said its Galaxy S3 and Note 2 helped it to defy a shrinking smartphone market in the first quarter, boosting its overall profits by 42 percent from a year ago.The company said Friday its net profit was a record 7.15 trillion won (US$6.4 billion) in the period, up from 5.05 trillion won in 2012. That beat its even performance from the fourth quarter of last year, during the lucrative holiday shopping season. Overall sales were up 17 percent to 52.87 trillion won.The company said global smartphone demand declined slightly in the January to March quarter, but its core products allowed it to increase market share. Samsung said it expects the Galaxy S4, which went on sale today in South Korea, to outperform its predecessor."Our company plans to focus on increasing smartphone shipments with the launch of our new flagship smartphone, the Galaxy S4," said Hyunjoon Kim, vice president of Samsung's mobile division. "We are working hard to make the Galaxy S4 an even greater success than the Galaxy S3."To read this article in full or to leave a comment, please click here

Link: http://www.pcworld.com/article/2036430/samsung-profits-soar-on-phones-tablets-high-hopes-for-galaxy-s4.html#tk.rss_all