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Samsung: First quarter results better than expected, high hopes on Galaxy SIV

 

Samsung, world’s number one smartphone maker, reported that the current quarter results were much better than expected. This quarter the company managed to record net profit of around 7 trillion won ($6.44 billion) which was a jump of nearly 42% from 5.5 trillion recorded last year.

Samsung logo

Better than expected profits thanks to its Smartphone division

Analysts had already predicted that Samsung would break records this quarter, but the results came out to be much better than expected. The company attributes this level of net profit to the robust sales of its flagship phones like galaxy SIII and Galaxy Note II. Both these phones have become consumer favorites and the high demand for these smart phones have driven the tremendous growth of the company. In fact  we can see that the net profit of the mobile division of the company accounted for almost three quarters of the company’s total net profit. So, it’s quite safe to say that most of the company’s growth was driven by its smartphone sales.

Also, Woori Investment & Securities analyst Park Young-joo notes that if the company had ignored the allowance for legal issues, then Samsung would have posted much higher profits than the released figures.

High hopes for Galaxy SIV

 

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“Market response for the Galaxy S4 is very good, and we cautiously expect its shipment to be greater than its predecessor, the Galaxy S3,” Samsung said in a conference call.

Galaxy SIII managed to break all the sales records of the company till date and the even better Galaxy SIV is expected to set new standards in the market. Given that the company expects high demand for Galaxy SIV, we are pretty sure that they would be well equipped to ship the Smartphone in large volumes worldwide. As a result, the delay in the availability of Galaxy SIV from T Mobile and Sprint is expected to be only for a short time and the supply will definitely smoothen up in due course of time.

via Yonhap News