Samsung Galaxy S3 and Galaxy Note 2 help Samsung goat Increase in ... - Caribbean Media Vision

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 comprises 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-percent Increase 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 dampen, compounded by heightened competition. The January-to-March quarter again Proved trying 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 strength up our Competitiveness ahead of planned new product launches. “

However, he WARN, “We May experience stiffer competition in the mobile business due to expansion of the mid-to low-end smartphone market while TV growth will continue to wane in developed market.”

This is good news for Samsung, but bad news for Apple. The Cupertino firm has Announced the first fall in profits in ten years.

Do you think Samsung’s rise in smartphone sales spells doom for Apple? Let us know what you think in a comment below.