Samsung reveals first quarter earnings for 2013

Apr 26 2013, 3:13am CDT | by , in News | Technology News

Samsung reveals first quarter earnings for 2013

The South Korean consumer electronics giant that is Samsung has announced its first quarter earnings for 2013. Overall, Samsung raked 8.78 trillion in won on revenues of 52.87 trillion won.

For giant tech companies such as Apple and Samsung, it's not just about creating the best products for its customers. It's also about maximizing profits and making sure that sales are better than ever. Samsung, for instance, previously said prior to the announcement of its first quarter earnings that it is expecting profits to grow. The South Korean conglomerate announced today that it was able to amass a consolidated amount of 52.87 trillion in won during its first quarter which ended in March 31st.

Compared to the previous quarter, Samsung is seeing a 6-percent decrease. Furthermore, the company's consolidated operating profit for the quarter reached 8.78 trillion won, while the consolidated net profit is 7.15 trillion won, around $6.4 billion. Samsung says that sales of the Galaxy S3 and the Galaxy Note 2 helped in the profit margins. You can read the rest of the report here

Source: Samsung
Image Credits: Bloomberg



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