Samsung Q1 2013 financials show net profit increase

April 26, 2013
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With the GALAXY S 4 launch still in the process for Samsung, their latest quarterly report is showing an increase in net profit, which likley comes as a result of an increase in smartphone sales. Of course, thanks to the latest IDC report we were already given a bit of a teaser in terms of where Samsung stands in the smartphone market.

That said, according to Strategy Analytics, Samsung smartphone shipments are closing in at nearly 70 million units. This, aside from being almost double what the iPhone sold, is an increase of 56 percent for Samsung. As a result, Samsung's net income increased 42 percent as compared to the previous year. This accounts for a net income of 7.15 trillion won (roughly $6.4 billion).

Breaking these numbers down a bit further and we see Samsung as having total sales of 52.87 trillion won, a gross profit of 21.49 trillion won and an operating profit of 8.78 trillion won. Taking a look at the current net profit number as compared to the previous quarter and previous year and we an increase.

samsung-q1-2013-sales

Samsung went from 5.05 trillion won for Q1 2012 to 7.04 trillion won for Q4 2012 and as we already mentioned, they are currently sitting at 7.15 trillion won for the current quarter. The interesting part here, while the net profit has been on the rise, some numbers such as sales have actually dropped as compared to the previous quarter. Samsung reported sales of 56.06 trillion won for Q4 2012. Bottom line here, it looks like despite a drop in overall sales (likely due to increased competition), they still managed to move forward with a higher net profit.

[via Bloomberg]


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