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April 7, 2015

Samsung profits beat expectations ahead of S6 launch

Operating profit estimated to have dropped 31% from KRW8.49 trillion.

By CBR Staff Writer

Samsung Electronics has estimated that its operating profit during the first quarter would be around KRW5.9 trillion ($5.44 billion), beating analysts’ expectations.

Though the operating profit has been estimated to have dropped 31% from KRW8.49 trillion, as reported by the company during the corresponding quarter, it has showed signs of recovery ahead of the launch of its flagship Galaxy S6.

Samsung Electronics had reported KRW4.1 trillion of operating profit during the third quarter of 2014, and the operating profit during this quarter is the highest seen across the last three quarters.

The South Korean giant has estimated that its consolidated sales would be around KRW47 trillion, a 12% drop from KRW 53.7 trillion it reported during the corresponding quarter last year.

Analysts believe that the launch of Galaxy S6 could give a boost to its bottomline during the quarter as it prepares to launch it on Friday.

The company had unveiled two models of its Galaxy S6 on 1st March in Barcelona, with one of them having a curved screen.

Samsung Electronics will release the detailed quarterly report later this month.

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