Samsung’s Q1 Profits Up 53% To $7.7 Billion
Ryan Martin / 4 years ago
Samsung has just announced that its Quarter one profits for this year are going to be a huge $7.7 billion. This figure is up 53% over the same period a year ago, or over Q1 of 2012.
This figure is much better than most analysts had expected of Samsung but the figure is still down over the previous quarter, Q4 of 2012, where they posted an impressive $8.3 billion. This breaks Samsung’s run of five consecutive record profit quarters.
Strong sales of Samsung’s Galaxy and Note series of products have fuelled their rapid growth in the past few years. However, Quarter one of this year was expected to be slightly weak as consumers held out for the more desirable Samsung Galaxy S4 which was recently released. That said, Samsung will be expecting impressive Q2 results this year to account for the hype around the Galaxy S4 release. Pre-orders for the $579 Samsung Galaxy S4 start on April the 16th.
So far in 2013 analysts say Samsung have been selling about 25 million smartphones each month for a total of 70+ million smartphones for the Q1 period. This is up 7 million from the 63 million handsets Samsung sold last year in Q1.
Samsung will announce the full detailed results on April the 26th. These results come 3 days after Apple announce their results, exciting developments are ahead.
Apple recently posted an expected $13.08 billion in Q1 profits. This puts them well ahead of Samsung for Q1 of this year. What do you think of Samsung’s results? Are they falling behind Apple? Or was it just a minor blip in performance as consumers awaited the Galaxy S4?