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NewsPoster Apr 4, 2013 09:07 PM
Samsung posts early profit estimate, expects $7.7 billion earnings
South Korean manufacturer Samsung has released an early estimate for its January-March operating quarter. The company expects its operating profit to reach 8.7 trillion won ($7.7 billion), beating the average analyst forecast of $7.38 billion. Sales increased to $46.2 billion, up from $40.2 billion in 2012. If accurate, the figure breaks Samsung's streak of five consecutive quarters of <a href="" rel='nofollow'>record profits</a> by revenue. <br />
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The Android giant's mobile phone business is expected to be the biggest source of profit, with low-margin handsets supplementing the soon-to-be-replaced Galaxy S III. Samsung is likely to have a first-quarter operating profit in the mobile sector of $5.6 billion with a 40 percent sales increase.<br />
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"In addition to the Galaxy S III, mini models sold well in emerging markets including China, Brazil and India," said a Seoul-based Meritz Securities analyst Lee Sei Cheol. "Samsung's continued ascent in the smartphone industry seems to be unparalleled."<br />
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The next quarter's profit is expected to climb again, with the release of the Galaxy S4 <a href="" rel='nofollow'>later this month</a>. Two other high-end mobile devices are expected this year, including the Galaxy Note 3 and an Intel <a href="" rel='nofollow'>Tizen-based</a> device before the holiday season.
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