Weekly email of our best stuff
Hello and welcome to contact us page at eProfits
How can we help you today?
Samsung published its first-quarter financial results for 2014 yesterday, reporting revenues of 53.68 trillion Kore...
Samsung published its first-quarter financial results for 2014 yesterday, reporting revenues of 53.68 trillion Korean won. Ending with March 31, 2014, Samsung's revenue for the first-quarter fell 9% compared to the previous one, because of seasonality. Samsung's net profit for the first-quarter was 7.57 trillion won, while operating profits were 8.49 trillion won.
The first-quarter's mobile revenue for Samsung was 32.44 trillion won, while the operating profit was 6.43 trillion won. Even though the demand for smartphones has been low this quarter, Samsung marks an 18% increase in operating profits for the IM division, compared to the previous quarter. Samsung's mobile sales were 31.36 trillion won.
Samsung's Galaxy S4 and Galaxy Note 3 smartphone sales were strong in Q1, but the company also made a strong product portfolio with the launch of its latest Galaxy version, the S5. Tablet sales were also strong, as Samsung sold about 13 million units in the first quarter, and launched the Galaxy Note Pro and Galaxy Tab Pro tablets. In the quarter to come, Samsung expects the Galaxy S5 to outsell the S4, its predecessor.
Robert Yi, Samsung's Senior Vice President and Head of Investor Relations, said in a statement, “We expect our overall earnings to improve starting from the second-quarter, driven by improvements in the Display Panel segment and the Consumer Electronics division in conjunction with steady growth momentum in mobile and memory businesses.”
In the second-quarter Samsung is expected to see improved sales in display panels and home appliances, especially in the smartphone and TV departments, as new mobile devices are popping-up in the market and consumers are anticipating the World Cup.
Samsung is also expected to expand and strengthen in some business areas, like the wearables market, education market, and device connectivity.