Tablet and smartphone sales lift Samsung into record profit
Samsung today cheerfully reported that the first quarter of 2012 represented its highest quarterly profit in its history, with the Korean firm citing strong sales of its Galaxy smartphones and the Galaxy Note for the good news.
The pre-announced results saw Samsung record a net profit of 5.05 trillion Korean won (the equivalent of $4.44 billion) for the first three months of the year, a figure which was up by 81% from the 2.78 trillion Korean won ($2.45 billion) recorded in Q1 of 2011, while Samsung’s operating profit nearly doubled (rising 98%) on a year-on-year basis to reach 5.85 trillion Korean won ($5.15 billion).
Samsung’s telecommunications division surged 70% to 23.22 trillion Korean won ($20.58 billion), with the firm’s range of Galaxy smartphones helping to achieve an 86% growth in mobile sales. However, this demand for smartphones was not such good news for Samsung’s semiconductor division – usually its most profitable unit – which dived down 13% to 7.98 trillion Korean won ($7.03 billion).
These figures will be warmly greeted by those at Samsung, which has had to contend with a stagnant TV business and an Apple-dominated tablet market during a previous six months which has also seen Samsung being thrown into legal action with Apple for supposedly copying the ‘look and feel’ of the iPhone and iPad.
In related news, Samsung earlier today released a series of charts, documenting how its 7-inch Galaxy Tab 2 is superior to same-sized tablets from Amazon (the Kindle Fire) and Barnes & Noble.