Samsung hits ecstatic heights, posts USD 5.15 billion Q1 operating profit

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Samsung doesnt seem to be slowing down anytime soon with the quest to become the most profitable company in the mobiles industry. Since the entry of the Galaxyies, Samsung has been on a steady rise, grabbing the market where others like RIM and Nokia have been losing. A preliminary estimate for the first quarter ended March shows that Samsung did a 5.8 trillion won ($5.15 billion) operating profit for Q1, a  96.6% rise from Q1 of last year and a 9.4% gain from Q4.
The flagship Samsung Galaxy S II contributed heavily to this progress which sold 20 million units in just 10 months from begin of sale, the Galaxy Note also sold 5 million units in 5 months, and is expected to sell 10 million be end of this year.

This, added to the fact that there is another flagship expected to come in Q2, the Samsung Galaxy S III, Samsung is expected to be on a steady rise. The demand for the unleleased Galasy S III is huge with a record number of preorders.
Samsung also has the streak continue since it’s also the largest memory chip maker in the world as Japan’s Elpida Memory, the main competitor filed for bankruptcy.

“Samsung’s first-quarter results were better than expected, and its bottom line will continue to improve on the back of a recovery in chip prices and steady sales of smartphones and other high-end devices,” said Lim Dol-ri, an analyst at Solomon Investment & Securities.