Samsung Electronics Earns an Impressive $5.9 Billion in First Quarter

Samsung is breaking records with their first quarter financials.  Thanks to the Samsung Galaxy SIII, the company earned an impressive $5.9 billion alone in Q1.  Just how much did this phone assist with profit?  It has “more than doubled the company’s profit growth, selling 380 smartphones every minute, accounting for 70% of their overall business”.  This doesn’t look to be a fluke either; the SIII has only recently been released in the U.S. and the second quarter already estimates to ship out 19 million devices to retailers and customers alike.  It will be interesting to see if this affects iPhone 5 sales later on this year.

 

 

Phandroid

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