Samsung profits up 50%, smartphone market share grows to 33% (as Apple takes a dive)

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Devindra Hardawar/VentureBeat

Samsung's Galaxy S4 launch event

Samsung doesn’t have to worry about giving up its smartphone market throne anytime soon.

The Korean electronics giant today reported net operating profit of $7 billion for the second quarter of 2013, up 50 percent from a year ago, primarily led by its smartphone sales. Samsung doesn’t reveal how many smartphones it ships, but according to the research firm Strategy Analytics, the company reached 76 million units during the quarter (up from 48.7 million last year).

Samsung’s immensely successful earnings report looks even better when compared to Apple’s past quarter, in which it reported slightly higher revenues and profits from last year, but missed analyst estimates when it came to iPad sales.

Strategy Analytics also notes that Samsung’s smartphone market share continued to grow in the last quarter, jumping to 33.1 percent from 31.1 percent a year ago, while Apple fell to three points to 13.6 percent. Apple remains a solid No. 2 in the smartphone market, but its increasing gap with the market leader Samsung could be a cause for concern down the line.

Developing, refresh for updates.

Filed under: Business, Gadgets, Mobile

Devindra Hardawar 26 Jul, 2013
enclosure: http://venturebeat.files.wordpress.com/2013/03/galaxy-s-iv-event-18.jpg?w=160

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Source: http://venturebeat.com/2013/07/26/samsung-profits-up-50-smartphone-market-share-grows-to-33-as-apple-takes-a-dive/
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