Samsung predicts massive jump in profits led by smartphone sales

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There is no doubting that smartphone manufacturer Samsung has become a major force in the industry, with the company also providing consumers a number of other products to choose from. Now Samsung is predicting a massive jump in profits that is being led by sales of its hugely successful smartphones.

The company is estimating that its profits between January and March of this year has increased by 53% to $7.7 billion, and this has been helped by sales of its mid-range smartphones along with handsets such as the Galaxy S3 and Note 2.

This information has been provided before the company releases its full quarterly results later this month, and has exceeded analyst forecasts. The company has now enjoyed record profits for five quarters in a row and these are set to increase further with the release of the upcoming Galaxy S4 later this month.

Samsung is also looking to emerging markets with handsets away from its flagship models to further increase its business and analysts believe the company took sales away from Apple during the busy holiday season.

It is believed that during the period Samsung sold between 68 and 70 million smartphones, which is up from 63 million the previous quarter. While some of these figures are analyst estimates the company is certainly growing its market share.

Source: Reuters.

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One thought on “Samsung predicts massive jump in profits led by smartphone sales”

  1. Reply
    unlockworldwide says:

    Having just purchased a Samsung American Fridge Freezer I now see that they are advertising their Dishwasher. But as a typical South Korean Chaebol one must not be surprised by their diversity, nor by the minimal Government supervision exercised.

    The Korean’s have learned well from their Japanese neighbours, tutors and one time investors. Samsung’s broad diversity is a principal reason that I despair of BlackBerry ever returning to the big league; they have zero diversity. While Apple have diverse profit centres, Mac’s, iTunes. iPods …. and under Steve Jobs led in creative innovation, I wonder when the day will come that Samsung decide to turn Apple to pulp.

    Our frequent refrain that WE are CREATIVE rings hollow as I struggle, here in the UK, to maintain 2MB. A Korean who takes 50 MB for granted will soon outstrip whatever free thinking we cherish; especially as our vast numbers of unemployed cannot afford even the paltry 2MB.

    I’m not a lover of Apple Cider or BlackBerry Cordial, but I foresee it being offered as a special by WallMart.

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