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Samsung projects 53% profits boost to $7.7bn on back of Galaxy S & Note sales

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By John Glenday, Reporter

April 5, 2013 | 1 min read

Samsung has said it expects to continue its rise to smartphone dominance after projecting a healthy 53% increase in profits for the first quarter of 2013 to hit $7.7bn.

The South Korean giant is currently selling more than 30 models of smartphone with shipments rising to a record high of up to 70m units in the first quarter, up from 63m in the fourth quarter and defying a post holiday slump which hit Apple.

By way of comparison Apple shiments are thought to have slumped 30% to around 30m over the same period.

Samsung has been bolstered by the suiccess of its Galaxy S and Note series but in an increasingly saturated market future growth is likely to be driven by mid-market models such as the Galaxy pop.

This will be the fifth quarter of record breaking profits for the electronics firm.

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