Mobile business powers Samsung to post $4.46 billion profit in 2011-12

Telecom Lead Asia: Samsung Electronics said its net profit
reached 5.05 trillion won ($4.46 billion) for the fiscal quarter ending March
31, compared with 2.78 trillion won a year earlier.

Samsung’s quarterly operating profit was 5.85 trillion won. The operating
income doubled from a year earlier.
Samsung attributed its mobile communication business that makes the Galaxy
series of smartphones for driving the result.

Samsung’s quarterly handset division profits nearly tripled
to 4.27 trillion won ($3.8 billion), accounting for 73 per cent of total
profit, and operating margins jumped to 18.4 percent from 12 per cent in the
preceding quarter on strong sales of the Galaxy S and the Note phone/tablet,
the surprise consumer hit of recent months. 

More than 70 percent of the company’s operating income came
from its mobile business, which raked in 4.27 trillion won in the first

“We cautiously expect our earnings momentum to continue going forward, as
competitiveness in our major businesses is enhanced,” said Robert Yi, head
of Samsung’s investor relations.
Samsung saw significant sales growth of high-end smartphones in developing
markets including China. The company last year introduced the Galaxy Note
smartphone, featuring a 5.3-inch-long diagonal screen and a stylus pen for
taking notes as well as a new Galaxy S smartphone to compete with Apple’s
Samsung’s mobile business president, Shin Jong-kyun, told reporters in February
that it eyes 380 million handset sales this year, including 200 million
smartphones. The company shipped 330 million handsets in 2011, including 97
million smartphones.
Samsung is scheduled to announce a new Galaxy mobile device next week in
Samsung, which is the world’s biggest supplier of memory chips, said its
operating profit from its semiconductor business in the first quarter reached
760 billion won, less than half from a year earlier.



More like this

Will India take strong action against Apple for app store dominance?

The Competition Commission of India (CCI) is set to...

XR industry developments and near-eye display market outlook

Kimi Lin and a team of analysts at Omdia...

Apple to open Tap-and-Go mobile payments to rivals after EU warning

Apple has agreed to open its tap-and-go mobile payments...

Samsung unveils Galaxy Z Fold 6, explaining innovation to fans

Samsung Electronics has launched Galaxy Z Fold 6, its...