Korean electronics giant Samsung (005930.KS) has posted sales of nearly $50 billion in the firm's most recent financial quarter, citing its domination in the smartphone market as the main catalyst.
Samsung claims revenue hit 52.87 trillion Won in Q1 2013, equal to around $47.6 billion.
That represents a rise of 17 percent from the same period in 2012 the quarter when Samsung finally overtook Finnish giant Nokia to become the world's most successful mobile manufacturer.
As a result, Samsung recorded an operating profit of 8.78 trillion Won across the quarter, equal to around $7.9 billion. That's up 54 percent year on year.
Two of a kind
Samsung doesn't publish shipment figures, but IDC has already estimated the company shipped 70.7 million units across the quarter, representing a rise of more than 60 percent from the same period last year.
This puts Samsung comfortably ahead of Apple, which sold 37.4 million iPhones during its most recent quarter, contributing to company wide revenue of $43.6 billion.
Profits, however, were higher at Apple - $9.5 billion across roughly the same period in part due to a one off settlement paid by Samsung to Apple in relation to the two firms' US court battle.
Analysts believe the payment came in at around $600 million, though Samsung has not declared the figure publicly.
Caution
Aside from this, however, Samsung is being less bullish about the forthcoming quarter, with senior VP and head of investor relations Robert Yi citing increased competition in the smartphone sector.
"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 Yi.
"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."
Indeed, Samsung may also be hit by failure to meet launch demand for the Galaxy S4, with Reuters reporting claiming supply issues have "snarled" up the devices roll out in the US.
It's claimed AT&T customers will be unaffected, but other carriers such as Sprint and T-Mobile may be forced to launch the handset later than expected.
[source: Samsung]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Interview
Apr 9th, 2024
Saga CEO Rebecca Liao on the launch of publishing division and mass market web3 games
Top Stories
News
1 hour, 9 minutes ago
Apple joins generative AI revolution with Apple Intelligence and ChatGPT support
News
6 hours, 7 minutes ago
Royal Match takes a sweet lead over Candy Crush as Honkai: Star Rail zooms by Genshin Impact
News
8 hours, 9 minutes ago
Devsisters’ Chris O’Kelly talks upselling IP to fans across multiple games without cannibalization
News
10 hours, 54 minutes ago
Google hit by £13.6 billion lawsuit over alleged "self-preferencing" and anticompetitive behaviour
News
8 hours, 9 minutes ago
Devsisters’ Chris O’Kelly talks upselling IP to fans across multiple games without cannibalization
Feature
Jun 10th, 2024
Hot Five: Squad Busters’ supercharged launch, Pokémon’s record revenue, and Star Wars: Hunters finally hits the target
Events
Tribeca Games Festival 2024 | North America | Jun 5th |
Steam Next Fest: June 2024 Edition | Jun 10th | |
WN Conference Istanbul 2024 | Jun 11th | |
GamesForum Hamburg 2024 | Europe | Jun 11th |
ESI London 2024 | Europe | Jun 13th |
Game Con Canada (GCC) 2024 | North America | Jun 14th |
Indie Dev Play 2024 | Europe | Jun 14th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |