Categories: Devices

Galaxy Note helps Samsung post record profit

Galaxy Note helps Samsung post record profit

Sales of the Galaxy Note propelled Samsung (005930.KS) to record earnings in the first quarter – estimated operating profit was $5.1 billion on revenue of $340 billion. The Korean company will report final results April 27, after an external audit.

Samsung has sold more than 5 million Galaxy Notes since launching the product last October. At 5.8 inches by 3.3 inches, the Note is on the large side for a smartphone. But it can also function as a small tablet thanks to its stylus pen, which gives the Note its name.

Samsung has more than a quarter of the U.S. mobile phone market, according to the latest numbers from comScore. In the global market, as measured by IDC, Samsung is number two behind Nokia. But Samsung is far ahead of Nokia in the fast-growing smartphone segment, while Nokia still dominates the feature phone market.

Samsung’s Galaxy S III will be its next big smartphone release, and the product is expected to go head-to-head with the iconic iPhone. A leaked invitation to a London press event next month has raised hopes that the release date could be May 22.

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