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Samsung makes a killing

by on05 April 2013

Operating profit rose 53 per cent

Samsung seems unstoppable as the company just announced its January-March operating profit rose 53 percent to $7.7 billion as sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season.

The guidance, released ahead of full quarterly results by April 26, was better than an average forecast of the cocaine nose jobs of Wall Street. While it is the end of five straight quarters of record profits for the world's biggest technology firm by revenue it is still pretty good given that this is the dead time of year.

Analysts say earnings will hit a new high in the current quarter as Samsung's Galaxy S IV smartphone hits the market this month. The Galaxy S and Note series have fuelled Samsung's record-breaking earnings growth. Samsung is turning to less affluent customers in emerging markets, offering cheaper models such as the Rex and Galaxy Pop.

Samsung is valued at around $220 billion. The outfit sold 68-70 million smartphones, up from 63 million in the December quarter. This appears to be at the expense of its main rival. Apple saw its iPhone shipments slumped some 30 per cent to the 30 million range from 47.8 million in the previous quarter.

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