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
4 hours, 31 minutes ago
Delta game emulator hits No. 1 on the App Store download charts in 35 countries
News
6 hours, 30 minutes ago
Week in Views - The search for skills, billion dollar birthdays and terrific transmedia
News
7 hours, 16 minutes ago
Get practical tips into key game development tools and methodologies at the Dubai GameExpo Summit
News
7 hours, 31 minutes ago
PocketGamer.biz Podcast - DoubleDown Interactive’s Faith Price on lifecycle marketing tips to extend your app’s lifespan
News
8 hours, 53 minutes ago
Rovio's Angry Birds environmental campaign comes in to land on Earth Day
News
6 hours, 30 minutes ago
Week in Views - The search for skills, billion dollar birthdays and terrific transmedia
Feature
9 hours, 31 minutes ago
New release roundup: Take That: This is Life, Neopets: Tales of Dacardia, Persona 5: The Phantom X and more
Feature
Apr 19th, 2024
Speaker Spotlight: Xsolla's Chris Meredith on making the most of D2C and today's revenue opportunities
Events
Arts DAO Fest 2.0 | Middle East | Apr 20th |
App Promotion Summit London | Europe | Apr 25th |
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Popular Stories
Feature
Apr 15th, 2024
46 top mobile games in soft launch: CSR 3, Plants vs. Zombies 3, LEGO Hill Climb Adventures, Candy Crush Blast, and more
News
Apr 17th, 2024