Samsung estimates profits up 53 per cent

5 April 2013
SS By Sofia Mitra-Thakur
Mobile version
Share |
Samsung estimated its January-March operating profit rose 53 per cent to 8.7 trillion won (£5.03 billion)

Samsung estimated its January-March operating profit rose 53 per cent to 8.7 trillion won (£5.03 billion)

Samsung, the iPhone's main adversary, estimated its January-March operating profit rose 53 per cent to 8.7 trillion won (£5.03 billion) as sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season.

The guidance, released ahead of full quarterly results by April 26, was better than an average forecast for 8.3 trillion won in a poll of 42 analysts by Thomson Reuters I/B/E/S.

That marks the end of five straight quarters of record profits for the world's biggest technology firm by revenue.

But analysts say earnings will hit a new high in the current quarter as Samsung's Galaxy S IV smartphone hits the market this month.

The Galaxy S and Note series have fuelled Samsung's record-breaking earnings growth and made it the No.2 player in the global premium smartphone segment after Apple.

But as the high-end market swarms with new offerings, Samsung is turning to less affluent customers in emerging markets, offering cheaper models such as the Rex and Galaxy Pop, analysts said.

Samsung capitalised on its 30-plus smartphone models that cover nearly all price points to boost shipments to a record in the first quarter while the post-year end holiday season sapped sales at chief rival Apple, according to the analysts.

Samsung, valued at around £144 billion, estimated its first-quarter sales at 52.0 trillion won, versus a market forecast for 53.0 trillion won.

The South Korean firm likely sold 68-70 million smartphones, up from 63 million in the December quarter, according to five analysts.

By comparison, Apple's iPhone shipments likely slumped some 30 per cent to the 30 million range from 47.8 million in the previous quarter, they said.

Shares in Samsung, worth around £144 billion, fell 3 per cent over the past three months, beating a 2 per cent drop in the wider market. Apple lost 19 per cent in the same period.

Latest Issue

E&T cover image 1607

"As the dust settles after the referendum result, we consider what happens next. We also look forward to an international summer of sport."

E&T jobs

  • Chair in Integrated Sensor Technology

    The University of Edinburgh
    • Edinburgh, City of Edinburgh

    The University of Edinburgh is one of the world’s top 20 institutions of higher education.....

    • Recruiter: The University of Edinburgh

    Apply for this job

  • Principal Electrical Engineer - Power

    BAE Systems
    • Bristol, England / Cumbria, Barrow-In-Furness, England
    • Negotiable

    Principal Electrical Engineer - Power Join our Electrical Power team and help design the self-contained generation and distribution system for the Successor submarine - a new generation of submarine designed to carry the UK's independent nuclear deterrent

    • Recruiter: BAE Systems

    Apply for this job

  • Operations Supervisor (Mechanical/Electrical/Instrumentation)

    National Grid
    • England, Cambridgeshire
    • £33000 - £39000 per annum

    Operations Supervisor - (Mechanical/Electrical/Instrumentation) Salary: Circa £33k - 39k dependant on experience + vehicle and great additional benefits (share scheme, pension, potential bonus).Location: Wisbech - Cambridgeshire We currently have an excit

    • Recruiter: National Grid

    Apply for this job

  • Lead NDT Trainer

    BAE Systems
    • England, Lancashire
    • Competitive package

    Would you like to be involved with training UK and international teams in Non Destructive Inspection (NDI) to support the in service fleet (Typhoon Tornado, and Hawk)?

    • Recruiter: BAE Systems

    Apply for this job

  • Systems Design - Emerging Portfolio

    MBDA
    • Bristol
    • Competitive Salary & Benefits

    What?s the opportunity?   There are fantastic opportunities in Systems Design for engineers to work within Future Systems. These are highly visible, fast paced roles, in...

    • Recruiter: MBDA

    Apply for this job

  • Metering Engineer

    Department for Business, Innovation and Skills
    • Teddington, United Kingdom
    • £24,109 - £27,961 plus EO Electronics PE of £8,090.00

    We are now looking for a Metering Engineer to deliver RD’s In-Service Testing (IST) scheme for gas and electricity meters.

    • Recruiter: Department for Business, Innovation and Skills

    Apply for this job

  • Head of Operational Estates

    Premium job

    The Shrewsbury and Telford Hospital NHS Trust
    • Shrewsbury, Shropshire
    • £46,625 to £57,640 per annum

    As an experienced Estates Manager, you will play a key role in helping to shape the future of the Estates service.

    • Recruiter: The Shrewsbury and Telford Hospital NHS Trust

    Apply for this job

  • Engineering Project Manager - Electrical & Automation

    Nestle
    • York, North Yorkshire
    • c£45,000 + Car Allowance + Bonus + Excellent Benefits

    Nestlé Product Technology Centre in York currently has an excellent opportunity for an Engineering Project Manager

    • Recruiter: Nestle

    Apply for this job

  • Assistant Professor (Tenure Track) of Smart Building Solutions

    Premium job

    ETH Zurich
    • Zurich, Canton of Zürich (CH)

    The successful candidate is expected to develop a strong and visible research programme in the area of control and diagnostics of building systems

    • Recruiter: ETH Zurich

    Apply for this job

  • Process Controls Leader

    Premium job

    Phillips 66
    • Humber Refinery, South Killingholme, North Lincolnshire DN40 3DW
    • £60k - 75k plus extensive Compensation and benefits package, dependent upon experience

    Experienced Process Control Leader providing leadership and technical support for Oil Refinery. Extensive Compensation and benefits package.

    • Recruiter: Phillips 66

    Apply for this job

More jobs ▶

Subscribe

Choose the way you would like to access the latest news and developments in your field.

Subscribe to E&T