Samsung Posts Record Quarterly Profit; Smartphones, Galaxy Note Phablet Boost Sales

By : Subscribe to Raymond's | April 6, 2012 6:27 PM IST

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Helped by sales of its smartphones and the Galaxy Note 'phablet', Samsung Electronics posted record quarterly profit of $5.15 billion. More than 5 million units of 'phablet' have been sold since its launch in October last year.

"Higher-than-expected shipments of the Galaxy Note seem to have given an upside to earnings," Reuters quoted Lee Ka-keun, an analyst at Hana Daetoo Securities, as saying. "Note sales will increase further in the second quarter, and handset profit will grow despite a rise in marketing costs related to the London Olympics."

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Following the stupendous success of the Note, which is part phone and part tablet, experts are of the opinion that people are open for change.

"We're seeing a shift in the marketplace and there's room for diversity," says Shivesh Vishwanathan, senior solutions architect at Persistent Systems.

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