Samsung posts record Q1 profit of $5.15 billion
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Samsung posts record Q1 profit of $5.15 billion

Last Updated: Saturday, April 7, 2012, 13:55
 
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Samsung posts record Q1 profit of $5.15 billion
Seoul: Samsung Electronics posted record quarterly profit of USD 5.15 billion, driven by booming sales of its smartphones and the Galaxy Note 'phablet'.

Profit at the mobile-phone business more than doubled in the quarter from a year earlier after Samsung introduced the Galaxy Note and new smartphones to compete with Apple Inc, a key customer that it's also fighting in a patent battle on four continents.

Samsung is also bringing out 3D and internet-enabled TVs to counter falling chip prices that are eroding earnings at the semiconductor unit.

Samsung, which raced to the top of the global smartphone rankings last year with close to a fifth of the market, from just 3 percent in 2009, is set to go head-to-head with Apple this quarter with the expected launch of a revamped Galaxy S.

Bureau Report



First Published: Saturday, April 7, 2012, 11:06


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