Samsung reports a quarterly profit of about US 5.15 billion dollars

Samsung reports a quarterly profit of about US 5.15 billion dollars

The giant South Korean Electronics firm Samsung has reported a record-breaking quarterly profit of $5.15 billion, which was attributed to booming sales of its flagship smartphones especially the popular Samsung Galaxy Note.

(Image credit: unwiredview.com)

Samsung’s Galaxy Note has a selling record of about 5 million units since its launch in October 2011 and has been a great revenue earner for the company.

Lee Ka-keun, an analyst at Hana Daetoo Securities claimed that the heightened earnings for Samsung is due to higher number of shipments of the device and an expected increase in shipment of the Galaxy Note in the second quarter could further boost profit for Samsung.

Last year Samsung made it to the news by becoming the top ranking vendor for smartphone shipment, which accounted to about one-fifth of the market share. This is indeed an amazing achievement for Samsung given that it has only 3 per cent of the market share in 2009.

Samsung will come head to head with Apple this quarter with Samsung offering its flagship smartphone, the Samsung Galaxy S III and Apple to introduce its next generation iPhone.

Surprisingly, the Galaxy Note has proved to be a big success even at the pretext that Samsung probably has been experimenting with the design and form of the smartphone cum tablet. The Galaxy Note, which is essentially part tablet and part phone, has received good response from consumers and to top that up – as proof that the smartphone market is open for innovation in designs and forms.

HTC which is the world’s number 5 smartphone maker reported on Friday that its January to March profit plummeted up to 70 per cent to around $151 million which is mainly due to stiff competition from both Samsung and Apple.

On the other hand, Samsung’s January to March operating profit reached a record high of about 5.8 trillion won which almost doubled the previous year’s profit.

Source: montrealgazette.com

Samsung reports a quarterly profit of about US 5.15 billion dollars