News by Andrew Kameka on Friday April 05, 2013.
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Samsung today released a guidance report for its first quarter 2013 earnings that estimate that the company's profits reached 8.7 trillion Korean won (US $7.7 billion). That put an end to Samsung's streak of five quarters in which it broke earnings records, but the slower quarter still yielded big results on the back of millions of Android smartphones sold.
Samsung expected to earn less money in the first quarter of 2013 because it is a slower sales period and the company's roadmap did not include any marquee releases. The Korean manufacturer still managed to sell 68-70 million smartphones, according to analysts who spoke to Reuters. That's an increase from the 63 million sold in the previous quarter. Though it sold more phones in the first quarter of 2013, Samsung didn't match profit levels because a larger portion of the sales made were for its midrange and entry-level smartphones that are not as profitable. Analysts believe Samsung is poised for another record breaking quarter soon when the Samsung Galaxy S 4 goes on sale.source: Samsung, via: Reuters
Andrew is based in Miami, Florida.