Reuters: Technology News: Samsung estimates record first quarter profit; beats most bullish view

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Samsung estimates record first quarter profit; beats most bullish view Apr 6th 2012, 00:06 Tweet Share this Email Print Related News Instant View: Samsung estimates record first quarter profit 8:05pm EDT Analysis & Opinion Taiwanese money can't save Japan from Samsung Related Topics Tech » Hot Stocks » Asian Markets » An employee poses with Samsung Electronics' Galaxy phones at a store in Seoul March 14, 2012. Credit: Reuters/Kim Hong-Ji SEOUL | Thu Apr 5, 2012 8:06pm EDT SEOUL (Reuters) - Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone. The South Korean group, which out-sold global smartphone rivals last year, is set to consolidate its market position with new products, including a revamped Galaxy S, in the next few months. Samsung, which will release its full quarterly results on April 27, estimated its January-March operating profit at a record 5.8 trillion won ($5.15 billion) versus a consensus forecast of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It estimated sales at 45 trillion won. Samsung shares have risen by a quarter so far this year, and hit a life high of 1.351 million won ($1,200) on Wednesday. Over the same period, shares in smartphone rival Apple have soared by more than half, taking the California-based firm's value to above $582 billion - more than three times that of Samsung. ($1 = 1127.2750 Korean won) (Reporting by Miyoung Kim; Editing by Ian Geoghegan and Jonathan Hopfner) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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