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Samsung didn't break quarterly profit record, consoles itself with $7.7bn

Plans to coin it by flogging cheap models next quarter

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Samsung Electronics said today that it won't be posting record quarterly earnings for the first time since 2011 when it announces profit for January to March this year.

The Korean chaebol said that it estimates an operating profit of about 8.7 trillion won ($7.7bn) for the first quarter of 2013 on sales of around 52 trillion won ($46bn) - nothing to be sniffed at, but not a new record. In the last five straight quarters, Samsung had record amounts of cash coming in.

However, Apple's arch-frenemy is expected to make up the ground in the next quarter, when its new Galaxy SIV hits the shelves.

The operating profit rise is still a 53 per cent improvement on the same quarter last year, as sales of its mid-tier phones tided it over until the SIV launch.

Apple famously won't deign to spread out its mobile models, having just the one all-conquering Jesus mobe line for fanbois to gobble up. Samsung, however, happily caters to the lower end of the mobile market, with cheap models like the Galaxy Pop. ®

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