Samsung estimates record earnings, thanks to low-cost devices
Smartphone giant Samsung has beat estimates with record earnings, As HTC reports a loss.
Samsung says in the last 90 days it raked in 10.1 trillion won (roughly £5.8 billion) in operating profit, compared to 8.06 trillion won in the year ago quarter. Total revenue sat at 59 trillion won, up from 57.46 trillion won in the same quarter last year.
The company credits the sale of low-cost handsets across emerging markets, helping the company garner in the most money it's made yet. We wouldn't doubt the flagship Galaxy S4 had a helping hand too, but as the high-end market begins to flatten, lower-cost devices are starting to benefit companies, as even Apple has realised.
Given these are unaudited results from Samsung, the company has not yet broken down specifics in net income and revenue for various divisions. Those results are expected in the coming weeks as Samsung analyses its numbers. We may hear exact device sale figures at the same time.