Samsung's Profits Estimate Up 45% to $7.75 Billion
Steven Blum has written more than 2,000 blog posts as a founding member of AndroidPIT's English editorial team. A graduate of the University of Washington, Steven Blum also studied Journalism at George Washington University in Washington D.C. for two years. Since then, his writing has appeared in The Stranger, The Seattle P-I, Blackbook Magazine and Venture Villlage. He loves the HTC One and hopes the company behind it still exists in a few years.
It's still a good time to own stock in Samsung.
The Korean tech bohemith has announced their earnings estimate for Q1 2013, and the company is swimming in money (naturally). Samsung thinks their operating profit will land between 8.5 and 8.9 trillion won ($7.56 – $7.92 billion) for the quarter. That's a healthy increase over the same quarter last year, when the company made somewhere between 51 and 53 trillion won ($45.39 - $47.17 billion).
Samsung made 45% more profits than last year, even though sales have increased only around 13%. Moreover, the Galaxy S4 hasn't even reached the market yet. When it does, the company can expect additional revenue; likely an additional $10 billion or more, if Galaxy S3 sales are any indication.