Samsung Gets High Profits
Samsung Electronics have said that they expect the profit for the first three months of this year to almost double as the sales of its popular smartphones are continuing to grow.
Samsung have announced that they expect an operating profit of about 5.8 trillion won which is the equivalent of £3.2 billion.
The Samsung Galaxy smartphone range has seen it fast become on the of the world’s largest smartphone manufacturers. Experts have said that the secret behind the phone company’s success is that it has managed to keep its margins healthy despite it trading in difficult global markets.
It seems that strong sales of both the Galaxy Note and the Galaxy S smartphones have helped the company to keep a healthy profit margin.
The full earnings report will be released on April 27th.
However the memory chip division of the company is going through a tough time as the price of memory chips have been falling across the whole of the world due to the large number of suppliers.
However it is thought that once the economies start to recover across the world then the demand for memory chips will increase and this will boost the profits of Samsung even more.