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Samsung Reports 81 Per Cent Increase In Profit For Q1 2012

Samsung has managed to surprise stocks once again, reporting a huge increase in profit for the first quarter of 2012. The company also gathered a nice sum in total sales, mostly because of the success of their smartphones, as well as the tablets sector.

In the first quarter of 2012, Samsung stated that they had made approximately £24.71 billion in sales, with £3.15 billion in operating profit.

Minus the taxes, that places Samsung in the lead with £2.89 billion pure profit - an 81 per cent increase from last year, for the same quarter.

This raise is attributed to their continuing success with smartphones, where the Galaxy Note and the S2 have managed to significantly contribute to the company's profits. The report also has high hopes for devices to come, especially for the next Galaxy smartphone.

The Galaxy S3 is expected to blow every Android competitor out of the water, by integrating a quad-core Exynos chip clocked at 1.5GHz as well as a sleek design. The phone is also rumoured to have 1GB of RAM and a 4.7 inch-wide display.

Another important factor that influenced Samsung's gain was the display panel business, which has seen more demand for 3D and LED TVs - while supplying more panels to tablets and phones for various manufacturers.

Source: Newswire (opens in new tab)