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Samsung reveals solid Q1 results ahead of Galaxy S4 India launch.

India, April 26 -- After a slew of quarterly earnings reports this week, including Apple's numbers, Samsung has revealed rather solid results themselves. Get ready to read some mind-boggling figures, please! According to the numbers that have been released, Samsung clocked $28.6 billion via smartphone sales. Operating profits were at 8.78 trillion Won ($7.9 billion) and net profits were at 7.15 trillion Won ($6.4 billion). Samsung had reported a 5.50 trillion Won ($4.95 billion) net profit in the same quarter last year.

The IT & Mobile Communications division, which includes the Mobile Communications, Networks and Digital Imaging businesses, reported very strong numbers for the quarter. Revenues were up to 32.82 trillion Won ($29.5 billion), and reported operating profits are at 6.51 trillion won ($5.9 billion). The mobile division contributed 31.77 trillion Won ($28.6 billion) in sales, and this is a 7-percent increase from the December quarter of 2012, which included the festive shopping frenzy. The primary reason is that the Samsung Galaxy S III and the Galaxy Note II continue to do well, as does the new Galaxy S4.

"Although market uncertainties from the European crisis and the slow global economic recovery are still lingering, we expect to increase R&D spending for strengthening our competitiveness ahead of planned new product launches," said Robert Yi, Senior Vice President and Head of Investor Relations. ""We may experience stiffer competition in the mobile business due to expansion of the mid- to low-end smartphone market while TV growth will continue to wane in developed markets.", he said.

These are fairly solid numbers to reveal, ahead of the India launch of the Galaxy S4.

Source: Samsung

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Publication:Digit
Article Type:Financial report
Geographic Code:9INDI
Date:Apr 26, 2013
Words:315
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