Smartphone sales boost Samsung’s profits

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Samsung Electronics has forecast a 53% jump in profit for the first three months of the year mostly as a result of fast growing smartphone sales.

The sales of Samsung’s Galaxy range of smartphones already displaced Apple as the world’s biggest smartphone maker last year.

Analysts expect Samsung’s profits to rise further this year and they have predict robust sales for Samsung’s latest smartphone model, the Galaxy S4, which is to be released in April.

The smartphone, launched earlier this year, allows users to control its screen using only their eyes and has the ability to take two different pictures at once.

Analysts widely regard the phone to be a serious competitor to Apple’s iPhone5. “We expect some 22 million Galaxy S4 smartphones to be sold in the second quarter alone,” said Seo Won-seok, an analyst with Korea Investment & Securities.

Samsung, which is also the world’s biggest maker of memory chips, will release it final quarterly results on 26 April 2013.

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