Samsung expects profits to double
Samsung Electronics has stated that they expect their mobile sales to help drive up their profits for the first three months of the year. The South Korean company forecasts an operating profit of USD 5.1 billion for the period.
Healthy margins despite the competition, coupled with huge sales of the Galaxy-branded phones that have made Samsung the largest smartphone manufacturer, are the primary factors.
“There was a big surprise in profit, while revenue was in line, which suggests a stronger-than-expected profit margin from the handset division thanks to robust sales of high-end models like the Galaxy S and Note,” said Choi D-Yeon of LIG Investment & Securities.
“Handset margins are estimated to have topped 20% and profits from the division also topped 4 trillion won.”
[BBC via TechWireAsia]