independent

Thursday 17 April 2014

Samsung selling 500 new phones a minute

SAMSUNG Electronics, the world leader in mobiles and memory chips, said it probably earned a quarterly profit of €6.1bn, as it sold close to 500 handsets a minute and demand picked up for the flat screens it makes for mobile devices, including those for rival Apple products.

Its run of five straight record quarters may end in January-March on weaker seasonal demand, though a strong pipeline of smartphones – the South Korean group's biggest earner – and improving chip prices have eased concerns that earnings growth could slow this year, powering Samsung shares to record levels last week.

Samsung said its October-December operating profit jumped 89pc to 8.8 trillion Korean won from a year ago. That is 8.6pc higher than its previous record of 8.1 trillion.

Samsung has outpaced Apple – its biggest rival and biggest customer – despite the US firm's launch of the iPhone 5. IPhone 5 sales were a little below expectations.

While Apple rolled out just a single new smartphone last year, Samsung bombarded the market with 37 variants tweaked for regional and consumer tastes.

(Reuters)

Irish Independent

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Top Stories

Most Read

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News