SOUTH KOREA: Samsung Electronics posted a record 5.2 billion U.S. dollar quarterly profit as it shifted over 20,000 Galaxy smartphones an hour in January-March

Record ID: 523613

  • Title: SOUTH KOREA: Samsung Electronics posted a record 5.2 billion U.S. dollar quarterly profit as it shifted over 20,000 Galaxy smartphones an hour in January-March
  • Date: 28th April 2012
  • Summary: SEOUL, SOUTH KOREA (FILE) (REUTERS) VARIOUS OF GALAXY NOTE ON DISPLAY GALAXY TAB ON DISPLAY
  • Embargoed: 13th May 2012 13:00
  • Keywords:
  • Location: Korea, Republic of
  • Country: South Korea
  • Topics: Business,Finance
  • Reuters ID: LVA85B4YB96RM1VS9KLMC513ZCTF
  • Story Text: Samsung Electronics posted a record $5.2 billion quarterly profit as it shifted over 20,000 Galaxy smartphones an hour in January-March, outselling Apple's iPhone in a duel for the lucrative high end of the mobile industry.
    "Despite global economic slowdown and seasonal demand weakness, we achieved solid revenue and profits thanks to our differentiated products and technological leadership," said senior manager Shin Young-jun at Samsung Electronics Communication Team on Friday (April 27).
    Chairman Lee Kun-hee's South Korean group, whose $190 billion market value is 11 times that of Japanese rival Sony Corp, sold 93.5 million handsets in the first quarter - more than one in every four sold - according to Strategy Analytics, overtaking long-time handset leader Nokia.
    The total included 44.5 million smartphones, giving Samsung a 30.6 percent share of the high-end market. Apple's sales of 35.1 million iPhones gave it a 24.1 percent share.
    The near duopoly in high-end smartphones is unlikely to come under much threat this year or next, according to Bernstein analysts, and Samsung will look to keep that momentum going next week with the launch in London of a third generation of Galaxy S, hoping to boost sales ahead of the summer Olympics, where the group is among the leading sponsors.
    The new Galaxy will be powered by Samsung's quad-core microprocessor, which the company hopes to see used in handsets sold by Nokia, HTC and Motorola, as well as Apple, its biggest customer for components.
  • Copyright Holder: FILE REUTERS (CAN SELL)
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