Strong Galaxy S2 and Note sales lead Samsung to terrific financial quarter

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samsung-galaxy-note-review-top.pngSamsung have highlighted their Galaxy S2 and Galaxy Note handsets as the key to one of their most successful financial quarters ever.

Both proving poster boys for Team Android, the Note and Galaxy S2 got a rare shout out during Samsung’s global revenue statement.

“Samsung’s strong performance in the quarter was driven mainly by the IT & Mobile Communications (IM) segment, which is comprised of four businesses, Mobile Communications, Telecommunication Systems, IT Solutions and Digital Imaging,” said Samsung.

“In particular, solid growth in the Mobile Communications business, with brisk sales of flagship Galaxy Note and Galaxy S2 devices contributed to the company’s profitability.”

Between January and March, Samsung posted a consolidated net profit of 5.05 trillion won equal roughly to a whopping £2.75 billion or $4.45bn. Good work done then by the Galaxy range, even if the Galaxy Tab was conspicuous by its absence in the report.

However it wasn’t all good news for Samsung. Citing “seasonal factors”, its semiconductor arm, PC and TV business proved less successful, though display panels and phones still managed to earn the company revenues of 45.27 trillion won (£24.6bn or nearly $40 billion).

“Despite difficult business environments including seasonal low demand for major products such as PCs and TVs amid a global economic slowdown, we achieved record quarterly results based on our differentiated products and technology leadership,” said Robert Yi, Senior Vice President and Head of Investor Relations.

“We cautiously expect our earnings momentum to continue going forward, as competitiveness in our major businesses is enhanced.”

Gerald Lynch