Samsung Electronics wasn’t doing so hot during Q1 2011 as it saw a 30% drop in profits during that time, but managed to stay afloat thanks to its line of smartphones. With the millions of Galaxy S series of smartphones sold, it’s not surprising that it managed to somewhat offset losses and declines elsewhere.
According to Fierce Wireless:
On a company-wide basis, Samsung’s profit fell to $2.6 billion, down from $3.74 billion in the year-ago period. However, overall sales were up 7 percent year-over-year to $34.5 billion. Despite weakness in some of its other businesses, such as flat-panel TVs, Samsung’s mobile business remained robust during the period.
Samsung also hopes to surpass its success with the Galaxy S line of smartphones with the new Galaxy S II, successor to the original model. The company says that it hopes to sell over 10 million Galaxy S II units, and the fact that it is launching in 120 countries certainly helps.
For the second quarter, Samsung said it expects the overall handset market to grow in the single-digit percentages sequentially. The company expects product and price competition to intensify in the tablet market. Samsung said it expects to outpace growth in the handset market in the second quarter due to the introduction of new models, including the Galaxy S II, which will be launched by 140 carriers in 120 countries. Samsung also said it will expand its tablet portfolio with the release of a thinner version of the Samsung GalaxyTab 10.1.
While it’s not the best news that every other division at Samsung seems to be failing, at least there’s some hope in its smartphone market. I’m sure there is some hope that its Android tablets – the Galaxy Tab 8.9 and 10.1 – might help boost its mobile division even more. We’ll have to wait and see how the year plays out for Samsung, especially since the mobile landscape is fickle and can change at the drop of a hat.
[Via: Fierce Wireless]