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Samsung sets record-high profit in Q1

Reported by AAP
Friday, April 26, 2013
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Samsung Electronics Co says its first-quarter net income has jumped 42 per cent over a year earlier to a record high thanks to robust smartphone sales even during a typically slow season for the electronics market.

The world's largest smartphone maker said on Friday its net income reached 7.2 trillion won ($A6.34 billion) in the first three months of 2013, compared with 5 trillion won a year earlier.

The figure marks a 2 per cent increase from the previous quarter and a surprise. Analysts expected Samsung to report lower profit than the fourth quarter because demand typically slows.

Samsung says demand for the Galaxy S III smartphones and the Galaxy Note devices shored up profit.

Sales rose 17 per cent to 52.9 trillion won. Operating profit was up 54 per cent to 8.8 trillion won.

22/11/2014 05:57Sydney, Australia. 22 November,2014
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