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Samsung enjoys record profits in Q2 2013 thanks to their Galaxy S4 smartphone

Samsung sees record profits in Q2 2013 after the launch of their Galaxy S4 smartphone

| Business, Financial & Legal News | Posted: Jul 26, 2013 2:44 am

The Galaxy S4 has launched from Samsung, but just how much did it help them with their Q2 2013 earnings? Well, they made $8.5 billion in operating profits over revenues of an astonishing $51 billion. Both of these amounts are the highest Samsung have ever posted in a single quarter, but they still fell short of Wall Street's expectations.

 

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Samsung have said: "smartphone shipments and revenue increased from the March quarter" which is thanks to the launch of their flagship Galaxy S4 and that "quarterly revenue for the mobile sector climbed 9 percent compared with the prior". The South Korean giant has promised that smartphone sales would increase, stating they would "pick up in the third quarter and outperform global market forecasts".

 

Samsung did see a large increase in their profits on display panels, with a 46% increase in quarterly profits thanks to the high demand for large TVs. When talking tablets, Samsung said they expect the market to grow "in the mid-10 percent range with the introduction of new tablets".

NEWS SOURCES:Theverge.com

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