Samsung today announced its first quarter earnings of 2014, where it managed to earn an operating profit of $8.2 billion dollars, down 3.3% from the same period a year ago. The results were better than what Samsung and other analysts were expecting though. The electronic giant had a revenue of $51.8 billion dollar, a 3% increase year-over-year leading to a net profit of $7.3 billion.
While Samsung’s display panel segment posted a loss of 80 million won, the mobile division posted a profit of 6.43 trillion won ($6.2 billion) an 18-percent increase over the last quarter but a slight decline year-over-year. The company saw solid sales of the Galaxy S4 and Note 3 and with the launch of the Galaxy S5, it expects its revenues and profits to increase in the second quarter.
“Samsung is expected to see profits rally in the second quarter and beyond, on the back of improved sales of display panels and home appliances. Orders for display panels that are used for premium smartphones and TVs are expected to increase, as new mobile devices are rolled out into the market and as consumers look forward to the upcoming World Cup in Brazil,” said Samsung in its press release.
Based on the initial feedback, the company expects the Galaxy S5 to surpass the sales figure of the Galaxy S4. It did not reveal much about its tablet business except that growth remained solid and it managed to ship nearly 13 million units in the last quarter, which is generally the slowest of the year. Samsung also stated that it plans on gradually increasing its wearable device business and reinforce its leadership there.
You can head over to Samsung’s announcement for a full breakdown of its Q1 earnings.