Samsung Sales, Profit Still on the Rise

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By Douglas A. McIntyre Updated Published
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Samsung demonstrated once again why it is the consumer electronics and smartphone company most feared by its competitors. Its sales and earnings pick up speed with each new quarter, and it has become the clear leader worldwide in both total cellphone sales and more sophisticated handsets. The launch of the new Galaxy 4S should increase its dominance in the latter category.

The Telegraph reports:

The world’s largest maker of smartphones, memory chips and televisions estimated on Friday that operating income rose 53pc to around 8.7 trillion won (£5.1bn) in the three months to the end of March, as sales grew 15pc from a year earlier to 52 trillion won.

The preliminary result is better than the 8.3 trillion won forecast by analysts, although it marks the end of five straight quarters of record profit.

Analysts predicted that Samsung’s earnings would hit a new high in the current quarter when its latest smartphone, the Galaxy S4, hits the market.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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