Galaxy S2 and Note sales give Samsung a blockbuster quarter
27th Apr 2012 | 08:07
Can't accuse them of phoning it in
Samsung has pointed to the Galaxy S2 and Galaxy Note as the key reasons behind a record-breaking quarter for the Korean giant.
Popularly and critically acclaimed, the Samsung Galaxy S2 has proven to be the flagship Android phone since its release, winning a rare five-star review from TechRadar and stirring huge hype for its successor the Samsung Galaxy S3.
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Such has been its impact financially for Samsung that it, along with the tablet/phone hybrid the Samsung Galaxy Note, was name-checked in the company's global revenue statement.
"Samsung's strong performance in the quarter was driven mainly by the IT & Mobile Communications (IM) segment, which is comprised of four businesses, Mobile Communications, Telecommunication Systems, IT Solutions and Digital Imaging," said Samsung.
"In particular, solid growth in the Mobile Communications business, with brisk sales of flagship Galaxy Note and Galaxy S2 devices contributed to the company's profitability."
That profitability amounted to consolidated net profit for January to March of 5.05 trillion won – equivalent to around £2.75 billion or $4.45bn.
It was entirely good news for Samsung was its semiconductor arm, PC and TV business in the doldrums due to 'seasonal factors', but display panels and phones ere enough to give the company revenues of 45.27 trillion won – £24.6bn or nearly $40 billion.
"Despite difficult business environments including seasonal low demand for major products such as PCs and TVs amid a global economic slowdown, we achieved record quarterly results based on our differentiated products and technology leadership," said Robert Yi, Senior Vice President and Head of Investor Relations.
"We cautiously expect our earnings momentum to continue going forward, as competitiveness in our major businesses is enhanced."
One thing that is not mentioned in the financials is the performance of the company's Galaxy tablets - an area where huge investment has been made to compete with Apple's iPad.