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HindustanTimes Sat,02 Aug 2014

Samsung estimates record first quarter profit
Reuters
April 06, 2012
First Published: 12:03 IST(6/4/2012)
Last Updated: 17:44 IST(6/4/2012)
Models display the new Galaxy Nexus smartphone during a news conference in Hong Kong. South Korea's Samsung Electronics Co. Ltd on Wednesday unveiled its Galaxy Nexus smartphone, the first to use the latest version of Google's Android operating system.
Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone.

The South Korean group, which out-sold global smartphone rivals last year, is set to consolidate its market position with new products, including a revamped Galaxy S, in the next few months.

Samsung, which will release its full quarterly results on April 27, estimated its January-March operating profit at a record 5.8 trillion won ($5.15 billion) versus a consensus forecast of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It estimated sales at 45 trillion won.

Samsung shares have risen by a quarter so far this year, and hit a life high of 1.351 million won ($1,200) on Wednesday. Over the same period, shares in smartphone rival Apple have soared by more than half, taking the California-based firm's value to above $582 billion - more than three times that of Samsung. ($1 = 1127.2750 Korean won)

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