Samsung Electronics, the worlds number one technology firm when considering revenue, estimated that their operating profit nearly doubled over the January-March period a year ago. This was fueled by sales of its flagship Galaxy smart phones, its Note tablet and phone.
The South Korean company outsold competitors last year and is getting ready to consolidate its market position with a new line of products, one such product being the new and improved Galaxy S. The new Galaxy S will be released in the next few months.
Samsung will release its full quarter results on April 7th. Samsung estimated that its January-March operating profit will be at a record level of 5.8 trillion won ($5.15 billion. Most have set the forecasted amount to 5 trillion won. Its estimated sales are around 45 trillion won for the period.
Shares in Samsung have gone up by 25 percent so far this year. Shares hit a lifetime high of $1,200 on Wednesday. During the same time period, Apple shares have done comparatively better, with shares rising by more than 50 percent. Apple’s current value is set at above $582 billion, which is more than 3 times that of Samsung.