By Claire Reilly
Samsung Electronics has announced its earnings guidance for the first quarter of 2012, with the Korean electronics company predicting a year-on-year doubling of profits.
Samsung has estimated an operating profit of approximately 5.8 trillion Won (AUD $4.9 billion) for the January to March 2012 period, a staggering increase on the 2.95 trillion Won figure reached during the same period in 2011.
In addition, the company announced expected sales of approximately 45 trillion Won (AUD $38.3 billion) for the quarter, which is also a significant 20 per cent increase on the 2011 figure of 36.99 trillion Won.
The 2012 figures represent median estimates taken from an approximated range. However, despite the margin for error, the figures show undeniable growth for a company that was until recently locked in a lengthy legal battle with one of its main competitors.
Following the resolution of litigation between Samsung and rival Apple, the company has seen the successful release of the delayed Galaxy Tab 10.1, as well as a follow up tablet, the Galaxy Tab 8.9 4G. Unlike Apple’s newest product, Samsung's 8.9-inch tablet is 4G by name and 4G by spectrum capabilities.
Most recently, Samsung has launched its new phone-tablet hybrid (complete with stylus) known as the Galaxy Note.
Samsung confirmed that the company’s full earnings results “will be disclosed after the B.O.D's [Board of Directors’] approval of 12.1Q financial statements and quarterly reports”.
Watch this space...