Samsung Posts Record First Quarter Sales
Samsung, now the biggest electronics manufacturer in the world, has reported revenues of almost $40 billion, translating to a net profit of $4.4 billion. This is almost double the figure the company posted for the same period last year.
The mobile phone division of the company was one of the biggest contributors to that success, with profits growing four fold to $3.7 billion. Samsung attributed the runaway success with the large sales of two its mobile phones – the Galaxy S II and the Galaxy Note. According to Reuters, Samsung have sold an estimated 90 million phones during the quarter, with 44 million of that being smartphones.
The record sales of its mobile phone division has largely veered attention away from troubles in their chip division, which has seen a sales decline and cutting its profits by half.
Samsung’s display panel division has also been a success, as it has made a profit for the first time in two years. The panels that Samsung makes are used in a wide array of devices – from mobile phones to monitors, TVs and computers.
Samsung is going to ride this wave of good news until the imminent release of the Galaxy S III, which is anticipated to be another success for the company.