Samsung has released its Q1 2013 financial results for the January-March period and reports that smartphone sales have remained robust despite the imminent release of its new flagship, the Galaxy S4.
It’s quite normal for a manufacturer’s sales to take a hit across the board ahead of a new flagship launch, so it’s unusual that Samsung hasn’t noticed much of an impact.
The company’s net profit for the quarter was £4.7 billion, an increase of 42 per cent over the same period in 2012 which saw a net profit of around £2.91 billion. It’s also worth noting Samsung manage to increase its profits by this substantial figure despite paying out around £338 million in US courts during its legal clashes with Apple.
Revenue for the quarter also rose by 17 per cent to around £30 billion with operating profit increasing by 54 per cent to £5.1 billion. Profits increased from 2012’s first quarter by 2 per cent contrary to analyst expectations for a drop ahead of the Galaxy S4 launch, apparently off the back of continually strong sales of the Galaxy S3 and Galaxy Note 2. Total smartphone sales for the quarter topped £18.5 billion.
Samsung’s Galaxy S4 is set to hit store shelves over the weekend of April 27 and it’s expected to achieve record sales figures for the company. It features a larger 5-inch display with Full HD 1080p resolution, a 13-megapixel camera and a Qualcomm 600 Snapdragon quad-core processor.
Samsung’s mobile chief, J K Shin, recently commented that buyers disappointed with the news that the Galaxy S4 wouldn’t use the Exynos 5 Octa eight-core processor would not notice a difference in performance with the Snapdragon chip. However, many who were looking forward to the Exynos model were primarily interested in its potential power-saving properties.
by pbriden via Featured Articles
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