Samsung pre-announces earnings, profits surge 53% to $7.7 billion
Apple's main rival Samsung pre-announced its earnings on Friday, revealing that the company had an even stronger-than-expected quarter with operating profits of 8.7 trillion won, or $7.7 billion U.S.
Samsung's recent success is believed to have come from low- and mid-level smartphones.
The numbers represent a 53 percent from Samsung's earnings in the first quarter of 2012. In all the company had sales of 52 trillion won, which equates to about $46 billion, up 15 percent from the year-ago quarter.
Analysts polled by Thomson Reuters had expected Samsung to see 8.3 trillion won in operating profit and 53 trillion won in sales, as noted by CNNMoney.
It's believed that Samsung's quarter was driven by low-end and mid-level smartphones. The company's flagship device, the Galaxy S III, took a hit in the wake of Apple's iPhone 5, while consumers awaited Samsung's next-generation handset, the Galaxy S4, which will become available for preorder April 16.
Samsung's better-than-expected quarter ahead of the Galaxy S4 launch may further drive home the belief among investors that Apple needs to offer a new low-cost smartphone that could be sold to consumers without a carrier subsidy. Rumors have suggested that Apple is planning to launch such a device later this year.
As for Apple's own fiscal quarter, the iPhone maker will report its earnings on Tuesday, April 23 after the markets close. A conference call will follow at 5 p.m. Eastern, 2 p.m. Pacific.
Analysts expect that Apple will reveal sales growth of around 9 percent, but net income will have dropped by about 17 percent year over year. The company's stock has struggled over the last six months as investors have expressed concern that Apple's growth could be slowing in the wake of surging competitors like Samsung.
Samsung's recent success is believed to have come from low- and mid-level smartphones.
The numbers represent a 53 percent from Samsung's earnings in the first quarter of 2012. In all the company had sales of 52 trillion won, which equates to about $46 billion, up 15 percent from the year-ago quarter.
Analysts polled by Thomson Reuters had expected Samsung to see 8.3 trillion won in operating profit and 53 trillion won in sales, as noted by CNNMoney.
It's believed that Samsung's quarter was driven by low-end and mid-level smartphones. The company's flagship device, the Galaxy S III, took a hit in the wake of Apple's iPhone 5, while consumers awaited Samsung's next-generation handset, the Galaxy S4, which will become available for preorder April 16.
Samsung's better-than-expected quarter ahead of the Galaxy S4 launch may further drive home the belief among investors that Apple needs to offer a new low-cost smartphone that could be sold to consumers without a carrier subsidy. Rumors have suggested that Apple is planning to launch such a device later this year.
As for Apple's own fiscal quarter, the iPhone maker will report its earnings on Tuesday, April 23 after the markets close. A conference call will follow at 5 p.m. Eastern, 2 p.m. Pacific.
Analysts expect that Apple will reveal sales growth of around 9 percent, but net income will have dropped by about 17 percent year over year. The company's stock has struggled over the last six months as investors have expressed concern that Apple's growth could be slowing in the wake of surging competitors like Samsung.
Comments
Samsung or Samsung electronics ?
2) Either way, it's pretty good for being half of what Apple makes. I hope the other vendors using Android can find a way to come back into the black after Samsung destroyed competition by their less than ethical tactics.
Ars Technica's headline: Samsung’s string of record quarterly profits ends softly at a cool $7.7 billion
http://arstechnica.com/business/2013/04/samsungs-string-of-record-quarterly-profits-clocks-in-a-cool-7-7-billion/
Samsung will continue to be an "also-ran" until they can manage to do original work and not be such thieves.
Great profits steal? ;-)
Bring back hanging I say. These 'fines' don't seem to deter wrongdoing.
Quote:
Originally Posted by umrk_lab
Samsung or Samsung electronics ?
Good point, but regardless their phones will be the majority of that.
Quote:
Originally Posted by SpamSandwich
Ars Technica's headline: Samsung’s string of record quarterly profits ends softly at a cool $7.7 billion
http://arstechnica.com/business/2013/04/samsungs-string-of-record-quarterly-profits-clocks-in-a-cool-7-7-billion/
Samsung will continue to be an "also-ran" until they can manage to do original work and not be such thieves.
There's this joke of an article on Ars Technica that I saw the other day. It must have been written by a braindead Fandroid.
From touch displays to the Surface: A brief history of touchscreen technology
The beginnings of capacitive, resisitive, and multitouch screens.
There's barely a mention of Apple in that article. Yet they keep talking about Microsoft and the Surface as if it was some huge breakthrough.
How in the hell can somebody have a history of touch displays, without even barely mentioning something like the iPhone and the iPad? It is because of Apple that everybody is using touch displays today.
Quote:
Originally Posted by Apple ][
There's this joke of an article on Ars Technica that I saw the other day. It must have been written by a braindead Fandroid.
From touch displays to the Surface: A brief history of touchscreen technology
The beginnings of capacitive, resisitive, and multitouch screens.
There's barely a mention of Apple in that article. Yet they keep talking about Microsoft and the Surface as if it was some huge breakthrough.
How in the hell can somebody have a history of touch displays, without even barely mentioning something like the iPhone and the iPad? It is because of Apple that everybody is using touch displays today.
Because they think Microsoft saved Apple from extinction.
Quote:
Originally Posted by monstrosity
When all you get a a single billion (or is it half that now?) slap on the wrist for blatant plagiarism it makes it seem quite worthwhile.
Bring back hanging I say. These 'fines' don't seem to deter wrongdoing.
Crime does pay, apparently.
Who cares about a billion dollar fine, when you've made many more billions than that in profit? And it probably won't even be a billion dollar fine. Some judge or other asshat will no doubt lower the fine.
It could be that it's only Part 1 of a 3 part series. Give the next two parts a chance to win you back 8-). Note too that "Surface" in the article isn't referring to the current Microsoft hybrid tablet.
Quote:
Originally Posted by Gatorguy
It could be that it's only Part 1 of a 3 part series. Give the next two parts a chance to win you back8-). Note too that "Surface" in the article isn't referring to the current Microsoft hybrid tablet.
Yeah, the Surface in the article is some huge table.
However, it's listed in the timeline for 2008, while the iPhone, which came out in 2007 is nowhere to be found on that timeline.
Reading that article was like reading the history of WWII, written by a skinhead.
I too worry about other Android makers in the shadow of Samsung. HTC is paying attention. Their latest designs are ripped from someone's pages.
Quote:
Originally Posted by CentralParkMac
It is time for Apple to pull up their socks and fix all their bugs.
Huh?
Quote:
Originally Posted by Apple ][
Reading that article was like reading the history of WWII, written by a skinhead.
LOL.
Quote:
Originally Posted by CentralParkMac
It is time for Apple to pull up their socks and fix all their bugs. They are losing market share to their biggest rivals in Samsung.
I've provided a link to back you up http://appleinsider.com/articles/13/04/04/apple-extends-lead-over-samsung-gains-on-google-in-us-smartphone-market
...oh wait!
Sold not shipped
This article is talking about profits, not about the number of units sold or shipped.
Quote:
Originally Posted by SolipsismX
This article is talking about profits, not about the number of units sold or shipped.
Didnt know you could profit from shipped items that have to be repurchased backed later on
Meanwhile, Apple at 52-week low, and may no longer be most valuable tech company in the world by the end of the day or monday. IBM about to surpass Apple in value despite making far less. Short-term earnings don't matter this much, the market has lost all faith in this company longer term with current valuation.