Telecom Lead Asia: Samsung Electronics said its net profit
reached 5.05 trillion won ($4.46 billion) for the fiscal quarter ending March
31, compared with 2.78 trillion won a year earlier.
Samsung’s quarterly operating profit was 5.85 trillion won. The operating
income doubled from a year earlier.
income doubled from a year earlier.
Samsung attributed its mobile communication business that makes the Galaxy
series of smartphones for driving the result.
series of smartphones for driving the result.
Samsung’s quarterly handset division profits nearly tripled
to 4.27 trillion won ($3.8 billion), accounting for 73 per cent of total
profit, and operating margins jumped to 18.4 percent from 12 per cent in the
preceding quarter on strong sales of the Galaxy S and the Note phone/tablet,
the surprise consumer hit of recent months.
More than 70 percent of the company’s operating income came
from its mobile business, which raked in 4.27 trillion won in the first
quarter.
“We cautiously expect our earnings momentum to continue going forward, as
competitiveness in our major businesses is enhanced,” said Robert Yi, head
of Samsung’s investor relations.
competitiveness in our major businesses is enhanced,” said Robert Yi, head
of Samsung’s investor relations.
Samsung saw significant sales growth of high-end smartphones in developing
markets including China. The company last year introduced the Galaxy Note
smartphone, featuring a 5.3-inch-long diagonal screen and a stylus pen for
taking notes as well as a new Galaxy S smartphone to compete with Apple’s
iPhone.
markets including China. The company last year introduced the Galaxy Note
smartphone, featuring a 5.3-inch-long diagonal screen and a stylus pen for
taking notes as well as a new Galaxy S smartphone to compete with Apple’s
iPhone.
Samsung’s mobile business president, Shin Jong-kyun, told reporters in February
that it eyes 380 million handset sales this year, including 200 million
smartphones. The company shipped 330 million handsets in 2011, including 97
million smartphones.
that it eyes 380 million handset sales this year, including 200 million
smartphones. The company shipped 330 million handsets in 2011, including 97
million smartphones.
Samsung is scheduled to announce a new Galaxy mobile device next week in
London.
London.
Samsung, which is the world’s biggest supplier of memory chips, said its
operating profit from its semiconductor business in the first quarter reached
760 billion won, less than half from a year earlier.
operating profit from its semiconductor business in the first quarter reached
760 billion won, less than half from a year earlier.
