Samsung forecasts 53 per cent jump in quarterly profits


Manufacturer expecting figures to hit £5 billion for the first three months of this year, with sales of around £30.3 billion

Samsung has estimated operating profit of Won8.7 trillion (£5 billion) for Q1 2013, up 53 per cent from the same quarter last year.

However profits would be down slightly from the figure of Won8.8 trillion (£5.1 billion) reported for Q4 2012, marking the end of five consecutive quarters of record profits for the manufacturer.

Samsung said sales in the first three months of this year would be around Won52 trillion (£30.3 billion), up 14 per cent year-on-year but down 7.2 per cent from the previous quarter.

Analysts have estimated that Samsung sold between 68 and 70 million mobiles in the period, up from 63 million at the end of last year.

In comparison, they are predicting that Apple iPhone shipments have fallen by around 30 per cent in the quarter to 30 million units.

The Samsung Galaxy S4 smartphone (pictured) is released on April 26, with analysts forecasting operating profit surpassing Won10 trillion (£5.8 billion) in Q2 off the back of sales of the flagship device.

The manufacturer’s current flagship smartphone, the Galaxy S III, has seen sales pass the 40 million mark less than a year after it first went on sale.