Samsung profits rocket by 53%


Samsung profits rocket by 53%

Jennifer Scott

Samsung today announced guidance for its upcoming financial results, showing significant rises thanks to its successful smartphone range.

Profits are expected to hit 8.7tn Korean won (£5bn) for the first quarter of 2013, slightly down on the 8.84tn Korean won from the previous three months, but up by 53% from Q1 of last year.

Sales are predicted to total 52tn Korean won for the same period, again down sequentially from 56tn in the previous quarter, but up almost 15% from the reported 45.27tn revenues in the first three months of 2012.

No further breakdown of the figures was made available, but with Samsung’s continued rise of the rankings in mobile sales – knocking Apple from the top smartphone spot with the Samsung Galaxy SIII and Nokia from the overall mobile manufacturer lead – it is expected the mobile division will have a lot to do with it.

Samsung also has the launch of its latest flagship handset – the Samsung Galaxy S4 – set for later this month, keeping prospects up for the following quarter.

The full results will be released once the company’s board of directors have approved the financial statements but, judging on last year’s publications, they should be due towards the end of April.  

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