Samsung Records A Record $8.3 Billion in Profits
The South Korean electronics giant, Samsung, just recorded record breaking profits for the quarter at 8.3 billion in U.S. dollars. Samsung has estimated they sold roughly 500 handsets a minute.
There is no doubt that Samsung, now valued around 230 billion dollars, is a giant in the manufacturing of consumer electronics and mobile devices. And now that this financial quarter’s numbers are in, it shows the company is doing very well against their rival, Apple. In all, Samsung, which is the world’s largest information technology company, amassed some 8.3 billion dollars (U.S.) in profits. Samsung claims a good percentage of that revenue came from their popular Galaxy line of smart phone ‘phablets’.
Other smartphone makers did fair, but when it comes to comparison, Samsung leaves them far behind in the dust. Comparatively, the Taiwan-based HTC released 18 different makes of cellular phones last year, LG released 24 and the Finland-based Nokia released 9. Apple, with all of their supposed innovation and technology, only released a single smartphone last year, which was the iPhone 5.
While sales of the iPhone 5 were ‘okay’, Samsung rolled out a total of 37 smartphone types last year alone. Furthermore, Samsung produced their smartphones with a very wide assortment of sytles and prices that could fit the budget of any consumer on the market.
Currently Samsung’s Galaxy S III has overtaken Apple and is the world’s most popular, best selling smartphone. In early spring 2013, Samsung will be releasing the Galaxy S IV, and many other new phone models, which should keep the company well ahead of Apple, or any potentially new smartphone contender.
Samsung is saying that their new Galaxy model will come with an unbreakable screen that will have and incredible 440 pixels per inch, super high-definition resolution. The new Galaxy will also have a much faster processor as well as a higher resolution camera.
Analysts are predicting that Samsung will see an even larger increase with their smartphone sales by more than a third this year. They further stated that Apple will lag farther behind as Samsung offers an even broader range of mobile devices. Over all, it is projected that Samsung will sell 290-320 million smartphones in 2013, which is up from an estimated 215 million in 2012.
Samsung’s operating profits from their October-December sales rose some 89 percent to 8.28 billion dollars from a year ago, which was 8.6% higher than their previous record of 7.29 billion dollars in July-September, 2012.