Apr 26 AT 9:57 AM Nick Gray 16 Comments

Samsung sells 69.4 million smartphones in Q1, sees $6.4 billion record profits

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Prepare to be shocked. Samsung has released its earnings report for the first quarter of 2013, revealing that the company managed to remain profitable. OK, that may be a bit of an understatement; Q1 was the best quarter on record for Samsung. Net income for the quarter skyrocketed to $6.4 billion, a staggering 42 percent increase over Q1 2012. During the quarter, Samsung’s smartphone sales jumped 56 percent to 69.4 million units, eclipsing Apple’s 37.4 million iPhone sales during the same time period.

If it’s not already clear, Samsung is the most dominant force in consumer electronics – a position which will be solidified in the second quarter of this year with the global launch of the Samsung Galaxy S 4. While we’d like to think that HTC, LG, Sony or even Motorola have a fighting chance, Samsung’s success in the smartphone space will not be matched for quite some time.

What’s your take on Samsung, its profits and its Android lineup? Will its rise to stardom backfire as consumers become aware of Samsung’s monolithic presence in the marketplace?

Source: Bloomberg

Nick is a tech enthusiast who has a soft spot for HTC and its devices. He started HTCsource.com (the first HTC blog) back in 2007 and later joined the Android and Me family in the summer of 2010.

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