Samsung releases Q1 2013 earnings, posts $7.9 billion profit

Samsung released its Q1 2013 earnings report. The company's financial performance fell right in line with the financial guidance it released earlier this month.

Thanks to strong smartphone and tablet sales, Samsung achieved an operating profit of 8.78 trillion won ($7.9 billion) - more than 50% higher than the same period of last year. The net profit was 7.15 trillion won ($6.45 billion) on 52.87 trillion won ($47.6 billion) of revenues.

Samsung expects the imminent launch of the Galaxy S4 flagship to have a massive impact on its financials next quarter. The manufacturer however, points at increased competition in the smartphone field.

Source | Via

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