South Korean company Samsung yesterday disclosed its Earnings Release detailing consolidated earnings for the first quarter of 2012. The Earnings Release shows that Samsung’s operating profit has nearly doubled to an all-time high of 5.85 trillion Won (around $5.17 billion US) depicting an admirable year-on-year gain of 98%.
According to research by Strategy Analytics, Samsung has been the star among mobile phone manufacturers during Q1 2012 and has been able to capture 25% of market share. It has now gone past Finnish giant Nokia in cellphone shipments for the first time to claim the crown of top mobile phone vendor of the world. Samsung’s overall profits during this period were largely driven by strong mobile phone sales particularly for smartphones, also beating rival manufacturer Apple by a healthy margin.