Samsung Electronics, the world’s top technology company by revenue, approx calculated operating profit almost doubled in January-March as compared to the same period last year, boosted by sales of its one of the most demanding Galaxy smartphones and its Note mini-tablet and other java enabled phones.
Samsung which out-sold worldwide smartphone competitors last year, is set to combine its market position with new gadgets, including a redesigned Galaxy S and other revamped products in the next few months.
Samsung, which will announce its full quarterly results on April 27, estimated its January-March functioning profit at a record $5.15 billion (5.8 trillion won) versus a concurrent prediction of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It calculated approx sales at 45 trillion won.
With the increase in the sales of Samsung’s products,the value of its shares have also increased by a quarter so far this year, and hit a life high of 1.351 million won ($1,200) on Wednesday. In the same period, value of its main rival’s shares Apple Inc. have climbed by more than half, taking the US-based company’s value to above $582 billion which more than three times that of Samsung. ($1 = 1127.2750 Korean won)
