It seems robust sales of the Samsung GS4, as well as its Galaxy range generally have led to Samsung Electronics forecasting a massive 53% in profits for the first 3 months of this year. Samsung is expected to have an operating profit of around $7.6 billion.
The GS4, which goes on sale on the 26th April contains many innovative features such as eye tracking technology and has the ability to take two different pictures at once. This extremely hyped smartphone is set to compete fiercely with Apple’s iPhone.
Seo Won-seok, an analyst with Korea Investment & Securities said:
LIG Investment & Securities analyst Choi Do-yeon said:
These positive sales estimates seem to be echoed by many.
Their previous flagship smartphone the Galaxy S III has seen sales pass the 40 million mark less than a year after it first went on sale.
The increase in profits in not just down to the GS4. Samsung is the world’s biggest maker of memory chips, and it is expected that they will post extremely good results on the 26th April due to improving conditions in the memory chip market.
We think this competition between giants Samsung, and Apple is great. It should be an exciting year with both companies striving to make new innovations in order to cement their lead over the other.
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