Samsung Electronics expects to record an operating profit of 8.7 trillion won ($7.7 billion) for the first quarter of 2013, a 53 percent increase over the year-ago period.
The guidance, released today by the South Korean electronics giant ahead of full earnings later this month, is better than many analysts had forecast but a slight decline over the fourth quarter of 2012, when the company posted a record $8.3 billion in operating profit. The guidance means the company expects to break its string of five consecutive quarters of record profits.
Despite that, analysts at Hong Kong-based Counterpoint Research estimates Samsung sold about 25 million smartphones each month of 2013 for a total exceeding 70 million in the first quarter, an increase from the 63 million the company sold in the fourth quarter of 2012.Though strong sales of the Galaxy S and Note have fueled Samsung record earnings growth in past quarters, the first quarter was expected to be a seasonal speed bump before the Galaxy S4 goes on sale later this quarter. Pre-orders will begin April 16, but the company hasn't indicated when it plans to launch the new handset, which is expected to be a monster seller.
The company will announce full quarterly results April 26, three days after handset rival Apple reports its first-quarter financial results.
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