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Friday, April 26, 2013

Quarterly profit up at Samsung

Samsung Electronics has announced quarterly figures for the period until 31st March, with revenue reaching 52.87 trillion won (around £30.8 billion). That’s 6% down on the previous quarter but almost 17% up year-on-year.

Net profit for the same quarter was 7.15 trillion won (£4.2 billion), up slightly from the previous quarter and up 42% from Q1 2012.

The company says its IT & Mobile Communications Division - which includes the Mobile Communications, Networks, and Digital Imaging businesses - generated quarterly revenue of 32.82 trillion won (£19.1 billion), up 7% quarter-on-quarter and also up year-on-year. Most of this came from the mobile business. However, it expects global demand for smartphones to reduce in the current quarter.

Robert Yi, Senior Vice President and Head of Investor Relations at Samsung, said “Although market uncertainties from the European crisis and the slow global economic recovery are still lingering, we expect to increase R&D spending for strengthening our competitiveness ahead of planned new product launches.”

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1 comments on article "Quarterly profit up at Samsung"

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James Rosewell

4/26/2013 1:34 PM

I'd bet they'll be spending that R&D money on a Samsung application store. Expect to see Google Play removed from Samsung devices next year, just like Amazon did. Why should Samsung give Google a free ride?

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