Samsung posts Q1 2014 earnings, profits down 3.3% year-over-year

Posted on Apr 29 2014 - 8:15am by Valerie Richardson

Samsung

Samsung earlier today announced the total income and profits generated in the first quarter of the year. Although these figures surpassed Samsung’s own estimations, it’s marginally down from last year. The company garnered $51.8 billion in revenue with $8.2 billion coming in as operating profit ($7.3 billion net profit). Of these figures, $30.29 billion in revenues ($6.2 billion profits) were made from the mobile division alone.

The company’s profits increased by 18% compared to Q4 2013 but were down 3.3% from Q1 last year. Handsets like the Galaxy Note 3 and the Galaxy S5 were reportedly responsible for the strong sales figures reported this past quarter and the company is hopeful of increasing those figures by Q2 2014.

Samsung has claimed that over 13 million tablets have been sold in the first three months of the year, which is quite decent as well. Samsung can seek some solace in the fact that the first quarter of the year is considered the slowest of the year, so it will look forward to the sales in Q2 2014.

Source: Samsung Tomorrow

Via: 9to5Google

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26 year old tech writer based in London, UK. Have prior experience working with major media conglomerates. I'm also a lover of all things tech. Well, basically anything with a display and a power button on it.