Samsung's official Q1 earnings show $6.4 billion in net profit

Samsung Electronics has released its Q1 2013 numbers and as it predicted a few weeks ago, business continues to boom. Operating profits are 8.78 trillion won as predicted, while net profit is up to 7.15 trillion won ($6.4 billion), up sharply from the same quarter last year when its net profit was 5.50 trillion won. Last year at this time we were still anticipating details on the Galaxy S III, but this time around Samsung is on the eve of its worldwide launch for the Galaxy S 4, which should push sales even higher. According to the documents, it's maintained a "steady pace" for Galaxy S III sales, while Note II sales increased and the Tab2 series increased momentum. The news isn't as good for PCs, shipments decreased due to weak demand. earnings in its TV business were also down from last quarter, blamed on the same lower overall market demand noted by LG in its earnings. We're listening in on the earnings call now, we'll have more information on just how it made all that cash (hint: lots of Galaxy phones) in a moment.

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Filed under: Cellphones, Home Entertainment, HD, Mobile, Samsung

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Source: Yonhap, Bloomberg, Reuters, Samsung (PDF)