Samsung goes from strength to strength

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Samsung goes from strength to strength

Samsung goes from strength to strength
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Samsung has posted profit growth for the sixth straight quarter.

Its mobile phone division – which accounts for nearly three quarters of its entire profit – jumping 56 percent.

That is in contrast to archrival Apple, which just reported its first profit decline in more than a decade and indicated no major product releases until later this year.

The South Koreans are just about to take aim at Apple’s home market with the debut of the latest Galaxy smartphone – the S4 – in the United States.

Samsung has kicked off a massive advertising campaign and set up mini stores at Best Buy locations to promote the smartphone, which sports a host of software-enabled features.

Reviews have been mixed, but strong pre-orders mean Samsung expects a short-term supply problem.

Sales soar

Samsung grabbed more smartphone market share from Apple in the latest quarter, with sales of its phones jumping to account for one third of the global market.

Sales of the iPhone 5 helped Apple’s volumes grow 6.6 percent to 37.4 million phones in the quarter from a year earlier, but that was not enough to stop its share of the market dropping to 17.3 percent from 23 percent, research firm IDC said.

A flood of cheaper Android-powered devices from Samsung lifted its shipments about 60 percent to 70.7 million, giving it a 32.7 percent of the market, up from 28.8 percent a year earlier.

During the first quarter Samsung shipped more smartphones than the next four vendors combined, IDC said.