Samsung Electronics made an operating profit of 8.78 trillion won ($7.9 billion) in the first quarter of 2013, matching its guidance and representing a 50 percent improvement on its performance last year. Revenues were 52.87 trillion won ($47.6 billion). The company said strong smartphone sales coupled with reduced marketing expenses helped boost its IT & Mobile Communications division to revenues of 32.82 trillion alone. However, Samsung's revenues were hit by seasonality — the company took in 6 percent more cash in the previous quarter — and what it describes as a sluggish economy that meant lower TV and home appliance sales.
“We may experience stiffer competition in the mobile business due to expansion of the mid- to low-end...
via The Verge - All Posts http://www.theverge.com/2013/4/25/4267346/samsung-earnings-q1-2013
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