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Samsung Q1 profit up 42% on strong mobile sales
2013-04-26 08:40:00| Telecompaper Headlines
(Telecompaper) Samsung Electronics reported a strong increase in first-quarter results, led by its mobile phone activities. Revenues rose 17 percent from a year earlier to KRW 52.9 trillion, and operating profit improved to KRW 8.78 trillion from KRW 5.69 trillion a year ago. Net profit rose to KRW 7.15 trillion from KRW 5.05 trillion. The growth was due entirely to its IT and telecom division, where sales rose to KRW 32.82 trillion from KRW 22.47 trillion a year earlier, and operating profit increased to KRW 6.51 trillion from KRW 4.18 trillion. Samsung said the handset and tablet markets were lower compared to the strong fourth quarter, but its own sales and earnings increased thanks to lower marketing costs and solid sales of devices such as the Galaxy S III, Note 2 and Tab 2 series. The weak seasonality is expected to continue in Q2, with demand picking up from the second half of the year. Developed markets will be led by demand for LTE phones, while more low-end devices should support sales in emerging markets.
Tags: sales
mobile
strong
samsung
Category:Telecommunications