Samsung's Q1 Profits Double in 2012 Thanks to Galaxy Note
Samsung reported its estimated profits just before it was scheduled to on April 27, stating that the company has doubled its first quarter amount from 2011.
The Korean Electronics giant generated 5.8 trillion won or $5.15 billion thanks to the release of some high-end devices including the smartphone-tablet hybrid, the Samsung Galaxy Note.
"Samsung, which raced to the top of the global smartphone rankings last year with a close to a fifth [of the] market, from just 3 percent in 2009, is set to go head-to-head with Apple this quarter with the expected launch of a revamped Galaxy S, its flagship smartphone, and Apple's next iPhone," read a recent report for Reuters.
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The device the publication is speaking of is the upcoming Samsung Galaxy S3 that is expected to launch in the next two months.
Reuter's analysts predicted that Samsung has shipped about 44 million smartphones during the first quarter of 2012, showing a 25 percent increase in sales from the previous quarter.
The analysts also noted that the strong sales for the quarter were fueled by the heavily marketed Galaxy Note that sold over 5 million units worldwide since launching in October of 2011.
"Higher than expected shipments of the Galaxy Note seem to have given an upside to earnings," said Lee Ka-keun of Hana Daetoo Securities. "Note sales will increase further in the second quarter, and handset profit will grow despite a rise in marketing costs related to the London Olympics."
Along with the sales of its own devices, Samsung produces many of the parts used to build the iPhone, which is arguably the company's toughest competitor in the smartphone market.
And with the release of the Galaxy S3 coming soon, it seems that the company has built a strong brand with the Galaxy name that also includes the Galaxy Nexus and Galaxy Tab.
