Samsung Estimates to Score $7.7 Billion Profit for Q1 2013

South-Korean Giants Samsung have released an estimate of their earnings for the first quarter 2013. The company, reportedly have earned a profit of 8.7 trillion Korean, that is US $7.7 billion. Samsung's streak of breaking sales records for 5 consecutive quarters ended, as q1 of 2013 proved to be a slow one. Non-the-less, the results are still huge, as the tech giants did manage to sell 68-70 million smartphones.

Samsung were expected to earn lesser incomes in the first quarter of this year, as it was a slower sales period for the company. Besides, there were no marquee releases in the quarter, by the company. However, Reuters says Samsung's earnings will reach a new high in the current quarter, as Galaxy S4 hits the market this month.

Samsung's Galaxy S and Note series shot the company into the number 2 possession in High-end smartphones segment, while Apple remained at the top. However, The Korean manufacturer is turning to lower end models such Rex and Galaxy Pop, to sell in the emerging markets, where consumers budget conscious.

In Q1 of 2013 Samsung sold 63 million more units then the previous quarter. A larger portion of the sales made were for its lower-end smartphones. Even though the company sold more phones then the previous quarter, the profit levels weren't very high, because the lower-end handsets aren't as profitable as the high-end models.

Source: Rauters