Samsung’s smartphone profits for the first quarter of the year are out and their smartphone profits are up. 
The Korean tech giant announces in a press release, “Highlighting the quarterly performance, the IT & Mobile Communications (IM) Division Which comp rises the Mobile Communications, Networks, and Digital Imaging businesses, Achieved profitable results backed by strong smartphone sales coupled with reduced marketing expenses.
“The IM Division rank up the first quarter with revenues of 32.82 trillion won, a 7-increasefontsize percent from the previous quarter. Sound sales of GALAXY S III and GALAXY Note II devices aided profit margins for Mobile Communications, but in the second quarter global demand for smartphones is forecast to fumes, compounded by heightened competition. The January-to-March quarter Proved trying again on the PC business, while the Networks Business came around with a stable supply of Long Term Evolution (LTE) fourth-generation (4G) telecommunications equipment. “
Robert Yi, Samsung’s Senior Vice President and Head of Investor Relations, said, “Although market uncertainties from the European crisis and the slow global economic recovery are still lingering, we expect to Increase R & D spending for Strengthening our competitiveness ahead of planned new product launches. “
However, he warns, “WE MAY experience stiffer competition in the mobile business due to expansion of the mid-to low-end smartphone market while TV growth will continued to wane in developed markets.”
This is good news for Samsung, but bad news for Apple. The Cupertino firm has Announced the first fall in profits at in years.
Do you think Samsung’s rise in smartphone sales spells doom for Apple? Let us know what you think in a comment below.
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