Samsung announces record estimated Q1 financials

April 5, 2013
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Business for Samsung is booming on the back of incredibly popular devices such as the GALAXY S 3. The end of Samsung's Q1 2013 has come and the company is offering up estimated financial information for the quarter. The good news for Samsung investors is that the company has done an amazing job and is expecting record profits.

The final financial information for the quarter will be available on April 26. However, Samsung is estimating a record $7.7 billion in profit for a 53% increase compared to the previous quarter. If the estimated data holds true, Q1 2013 will be the fifth quarter in a row for Samsung to set profitability records.

We can expect even better financial success for Samsung when the new GALAXY S 4 hits store shelves around the world in the coming weeks. Currently Samsung is valued at about $220 billion. Samsung's estimates put its smartphone sales for the quarter at between 68 million and 70 million won. The Note and Galaxy S devices are Samsung's most popular products.

While a lot of Samsung's profit does come directly from its smartphone and tablet operations, the company is also very successful in other business areas. Specifically the Samsung display business is also generating significant profit. Hopefully more profits mean more and better products on the horizon from Samsung.

[via SlashGear]


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