4/5/2013 12:09:01 PM
Samsung beats estimates with profit predictions
Samsung is set for a smartphone-driven strong start to 2013, forecasting a 53% increase in profits for its first quarter trading.
The world's biggest phone maker said it is predicting profits of 8.7tr Korean Won (£5bn) for the three months to the end of March, up from 5.7tr Won last year. Sales will hit 52tr Won, up 14.9% on 2012, but down 7.2% on the previous quarter, as smartphone fans wait the eagerly anticipated launch of the Galaxy S 4. While the manufacturer is posting profits that most of its rivals can only dream of, this quarter will mark the end of five quarters of record profits.
Samsung will reveal further details about its financial performance when it reveals its Q1 results in full on 26 April, coincidentally when the S 4 hits British shores.
Author: Graeme Neill