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Friday, 6 April 2012 - Samsung estimates record first quarter profit; beats most bullish view |
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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) Tech Hot Stocks Asian Markets 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. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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