Samsung, the world-leader in smartphones, announced its Q4 profits yesterday. The Korean giant bagged quarterly profits worth $8.1 billion, owing to the increased demand in smartphones, chips, and smart panels.
According to Reuters, Samsung sold 500 smartphones every minute owing to increased demand in smartphones, chips, and flat screens. Samsung shares are all time right now, easing concerns over slow growth in the coming fiscal year.
The statistics are fascinating, as analysts expected a certain decline in demand for Samsung smartphones due to release of iPhone 5 in September. However, the numbers have not slumped; in fact, they have improved. Though Samsung is yet to release an official statement regarding the exact figures, the Korean Giant is worth more than $230 billion, at the current standings. According to sources, the full release report is expected to be released on 25th January.
The reason behind the staggering numbers, however, is simple. Against Apple’s single smartphone release last year, Samsung had released nearly 37 variants of smartphone in different regional markets across the world. Also, Samsung’s flagship device- Samsung Galaxy S III became the best-selling smartphone in the last quarter. Samsung sold more than 15 million devices in the last quarter. Samsung Galaxy Note II was also a huge success. The Korean giant sold more than 8 million Note II handsets in the last quarter.
The recovery in profits can also be accredited to increase in the chip prices. Samsung, apparently, increased the price of the chips it manufactures for Apple. Also, there has been a sharp increase in demand for flat screens and micro-processors, which has led to humungous profits.
According to Neil Mawston, in the coming quarter, Samsung’s smartphone sales are expected to go up by more than 35%. Samsung is expected to sell more than 290 million handsets in the upcoming year against the sales of 215 million handsets last year.
Apple, on the other hand, is expected to sell 180 million handsets this year, up by a marginal difference from last year’s 135 million.
Category: Tech News