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Samsung forecasts 53% jump in Q1 profit
- South Korea: Sunday, April 07 - 2013 at 03:58
Samsung Electronics has said its January-March operating profit is estimated to rise 53% to 8.7trn won, as sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season, Reuters has reported. The guidance marks the end of five straight quarters of record profits for the world's biggest technology firm by revenue, but analysts said earnings will hit a new high in the current quarter as Samsung's Galaxy S IV smartphone hits the market this month. According to analysts' estimates, the South Korean firm likely sold 68-70 million smartphones, up from 63 million in the December quarter.
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