Samsung’s Q1 2012 profits nearly double year-over-year on higher margins for TVs and phones
The numbers for Samsung’s first quarter of 2012 are in and as it expected they are up sharply over the same period from 2011. After predicting profits of 5.8 trillion won it managed to top that, notching an operating profit of 5.85 trillion won ($5.16 billion US) for the quarter, a 98 percent gain over a year ago. Phones accounted for 73 percent of the profit, contributing 4.27 trillion won to the bottom line. As the world awaits the debut of what we assume will be the Samsung Galaxy S III May 3rd powered by its Exynos 4 Quad CPU, there’s clearly no shortage of demand for the Galaxy S II and Note. Sales of chips and TVs decreased from last quarter, but like its competitor LG, growing sales of high res tablet panels (we wonder which one that might be), 3DTVs and OLEDs increased profitability. Specifically, the high end 7000/8000 series of HDTVs increased sales by 50 percent from last year, while the company plans to focus on “region-specific” LED models for emerging markets, and high end (and high priced) flat-panels for developed markets. We’ll break down the numbers in a moment, for now check the press release after the break for the details.