The South Korean Giant handsets maker company Samsung has announced its earnings estimate for Q1 2013, and the numbers are looking amazing, mostly due to good Samsung smartphone sales.
The company estimates 52 trillion won ($46 billion) in sales and an operating profit of 8.7 trillion won ($7.7 billion) for the quarter, besting Q1 2012 by 53% and increase of 15 percent from a year ago.
Counterpoint Technology Market Research said last month that it expected Samsung’s smartphone sales to top 70 million during the first three months of this year, further expanding its share in the global smartphone market. The market research firm estimated Apple’s iPhone sales to reach 35 million during the same period.
Samsung’s financials have been improving quarter after quarter, and with its new flagship smartphone – Samsung Galaxy S4 – coming in April, things are definitely looking good for the Korean giant.
Samsung’s semiconductor business likely benefited from the shortages in memory chips used in personal computers, which spiked prices of Samsung’s key products. Global chip makers have reduced production of PC memory chips to increase chip supplies for mobile devices.
Samsung is the world’s largest maker of smartphones, memory chips, televisions and flat screen panels yet. The progress in year 2013 is looking to gain momentum as the Samsung Galaxy S4 is still to hit the market and Samsung is looking to make 40 million sales in first three months of it’s availability.