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Samsung profit growth continues in Q1

2013-04-05 09:06:00| Telecompaper Headlines

(Telecompaper) Samsung Electronics announced preliminary results for the first quarter showing sales of KRW 52 trillion and operating profit of KRW 8.7 trillion. Profits were better than market expectations, with a survey of 39 analysts by Bloomberg estimating operating profit at an average KRW 8.38 trillion. The results were also up sharply from a year earlier, when Samsung reported revenues of KRW 45.3 trillion and operating profit of KRW 5.7 trillion. The figures are down from KRW 56.1 trillion and KRW 8.8 trillion in the fourth quarter, in line with the seasonal slowdown and Samsung's own guidance for a more difficult smartphone market due to growing competition. The results have also yet to see the impact of the Samsung Galaxy S4, launching later this month. Samsung's full quarterly results will be published on 26 April.

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