Samsung Makes $7.9 Bn Profit In Q1 thanks to massive S3 smartphones sales volume

South Korean electronics major Samsung achieved an operating profit of around $7.9 billion in the first quarter of 2013. It is an increase of 41.6% from the same period last year.  The net profit achieved is $6.45 billion on $47.6 billion of revenues. It is easy to guess that this profit was attributing to the strong smartphone and tablet sales as the market is flooded with the tablets and several smartphones made by Samsung.

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Operating profit has increased by 54% from a year ago, while sales volume rose by 16.8%.

There was no confirmed report from the company about the number of phones it sold but analysts estimate that Samsung shipped approximately 70 million smartphones in the three months to March.

In an official statement from Samsung said that the “sound sales” of the popular Galaxy S3 smartphone had contributed to the profit margins, but cautioned that second quarter global demand was “forecast to dampen”.

Samsung’s Sr Vice President Robert Yi was quoted as, “We may experience stiffer competition in the mobile business due to expansion of the mid- to low-end smartphone market,”.

The mobile making major is expecting the recent launch of the Galaxy S4 flagship will have a massive impact on its financials next quarter. However, the company is cautious about the increased competition in the smartphone field.