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Samsung expects record quarterly profits

2013 January 9

The South Korean tech giant expects record earnings for their 2012 Q4 as shoppers continues to buy their smartphones and tablets. 

Last Tuesday, Samsung said that its operating profit for October-December quarter would be about $8.3 Billion and is up by 89% from last year and was higher than what they’ve expected. The company will soon release their full quarterly result (including net profit) at the end of January.

The maker of the famous Galaxy line smartphones and tablets said that their Q4 revenue rose to 18% from last year to 56 Trillion Won.

According to analysts, nearly 70% of Samsung’s operating income during the last quarter came from Samsung’s mobile division.

Recently, Samsung overtook Apple (its biggest rival) in smartphone sales and Nokia in mobile devices, has driven the Korean tech giant’s earnings to grow in recent quarters. The Korean tech giant’s quarterly operating profit has gone up to a steady pace since the last quarter of 2011. This is while its rival phone makers in the likes of RIM, Nokia, and HTC, have all experienced falling market share and profits.

The company shipped at least 60 Million smartphones during the last quarter of 2012, this is about 10% growth from the last quarter, says analysts.

Last September, Samsung launched their second hybrid device the Galaxy Note 2. This is the company’s ‘phablet’ device with a 5.5” display screen and digital pen (S-Pen). The said device helped the company maintain its market dominance during the Christmas holiday season despite of the strong competition from the iPhone 5. In addition, Samsung’s current flagship and the successor of the Samsung Galaxy S2 (the Samsung Galaxy S3), sold more units and is barely a year old. To date, Samsung sold 30 Million units of its current flagship device.

During the first three months of 2012, Samsung shipped 15 million units of the Galaxy S3 and about 7 million units of the Galaxy Note 2, during the last three months of 2012.

If Samsung’s Q4 results are in line with their report last Tuesday, the Korean Tech giant is expected to report $27.3 Billion in operating profit on revenue of $189 Billion for 2012.

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