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Samsung reports $6.24B profits from mobile and communications division in Q1 2014

Samsung Electronics reported operating profits of $8.24 billion (8.49 trillion Won) for the first quarter of 2014, with bulk of it coming from the IT & Mobile Communications Division. This group of the company reported profit of $6.24 billion (6.43 trillion Won) from revenues of $30.45 billion (31.36 trillion Won). Mobile division Out of the total IM earnings, the mobile business accounted for $30.45 billion (31.36 trillion Won). Revenues from mobile segment reduced 4% from the previous quarter from $31.62 billion (32.56 trillion Won) reported in Q4 2013. Although market demand for electronics devices such as smartphones and tablets in the January-March quarter is traditionally slow, Samsung said the profit margins were driven by strong demand for smartphones and efficient management of marketing expenses, as well as a net positive impact from adjustments to reserve items that accounted for 1% of the mobile unit’s revenue. Operating profits for the IM division jumped 18 percent compared with the previous quarter thanks to steady smartphone shipments, reduction in marketing expenditures and a positive impact from adjustments of one-off expenses. Looking at the tablet business, the company maintained solid tablet sales momentum by shipping nearly 13 million units during the slowest quarter and reinforced its mid to high-end lineup, including launches of the premium GALAXY Note PRO and GALAXY Tab PRO devices equipped with 12.2-inch displays, office functionalities. Samsung expects Galaxy S5 to surpass sales of Galaxy S4 based on the initial response it has received in the market. The company is banking on…

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