Samsung posts $7.3 billion net profit in Q1 2014

Samsung LogoSamsung revealed its Q1 2014 earnings figures yesterday, and the main takeaway is that the manufacturer posted an increase in revenue from the same time last year. Quarter-on-quarter revenue is still sliding, but Samsung is looking to new handsets like the Galaxy S5 to break the trend next quarter. In Q1 2014, the South Korean manufacturer posted overall revenues of $51.8 billion, with an $8.2 billion in operating profit and $7.3 billion in net profit. Samsung’s mobile division contributed to the lion’s share of the revenue by netting $30.29 billion and $6.2 billion in operating profit.

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Samsung has stated that the Galaxy S5 is set to sell more than the Galaxy S4, which if it does turn out to be the case, will be another windfall for the manufacturer. Samsung’s tablet sales are also on the rise, with 13 million units being sold in the first quarter. New tablets like the Galaxy Tab Pro series likely contributed to the increased sales of tablets. Samsung is also said to be working on a higher-end version of the Galaxy S5, which will be called the Galaxy S5 Prime, and a mid-range offering called the Galaxy S5 Neo. The Galaxy S5 Prime is said to launch in the month of June, while there is no word on when the Galaxy S5 Neo will be available.

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