Samsung reports enormous boost in profit

Samsung Electronics Co. Ltd announced its revenues on Friday 27th April. According to a report Samsung has overtaken Nokia and Apple as the world’s top cell phone maker. Samsung Electronics has now become the leading cell phone maker in the mobile world, capturing almost a quarter of the global market.

The report also stated that Samsung held an overall 30.6 percent share of the world’s smart-phone market, shipping 93.5 million units worldwide. As compared to the data of last year, Samsung held a 25.4 percent share by shipping 68.9 million units of mobile handsets worldwide.

Apple held a 24.1 percent market share while Nokia held the lowest market share of 22.5 percent at the end of quarter.

Samsung said, its operating net profit for the three months ended March 31 rose to a record of 5.05 trillion from 2.78 trillion Korean won, and the company’s consolidated operating profit reached an all-time high of 5.85 trillion won representing a 98 percent increase.