Samsung Electronics Profit increased 81% in the first quarter, thanks to a smart phone sales and increased profit potential on the display panel unit.
Net income reached 4.5 billion U.S. dollars (USD 41.3 trillion) in the three months to the end of March. The success of the Samsung Galaxy series as one of the largest smart phone maker in the world.
Samsung is also a manufacturer of flat screen televisions and the largest in the world. “We hope this will continue to gain momentum because of our increasingly competitive," said Robert Yi, head of investor relations at Samsung.
The future is bright
The company said IT and mobile communications division which assembles smart phones, scored 86% higher profit this year.
Samsung will launch the latest version of Galaxy soon. "Smart phone market now has only two players, namely Samsung and Apple," said Lee Sei-Cheol Meritz. Because the phone was launched Galaxy,
Samsung will continue to enjoy increased sales of mobile phone division. Global demand for smart phones are expected to rise in the coming years and research firm IDC predicts the number of smart phones produced worldwide will reach 659 million this year.
Samsung now faces tough competition from Apple (U.S.), Nokia (Finland) and HTC (Taiwan).
Apple this week said it has sold 35 million iPhones in the first quarter and will launch the iPhone 5 series later this year.
Sources: BBC Indonesia