Samsung Electronics is set for another substantial boost in profits, according to its latest forecast.
The South Korean firm has announced that it expects to post a quarterly operating profit of around 5.9 trillion won (£3.65 billion) for the first three months of 2015. Should this prove to be the case then Samsung will have exceeded market expectations but would represent a drop of 30 per cent in profit from the same period a year earlier.
Samsung has long been boosted by its mobile division but this has struggled to retain its dominance against rivals such as Apple and Chinese smartphone-makers like Xiaomi. With the launch of products such as the iPhone 6 and the iPad, Apple has been able to keep up its strong performance levels.
In January, the Californian company posted a net profit of $18 billion (£11.8 billion) for its first fiscal quarter. It represented the largest quarterly profit ever made by a public company and dwarfed the £15.9 billion made by ExxonMobil in the second quarter of 2012, according to Standard and Poor's.
This level of performance highlights the challenge faced by the likes of Samsung when it comes to toppling Apple. However, the Korean company's latest trading update does provide some positive signs and it will be looking to continue this growth in the coming months and years.
Coinciding with Samsung's profit forecast, the company also unveiled its latest smartphone – the Galaxy S6 edge. The latest model from the Samsung factory floor is set to go head-to-head with Apple's iPhone 6S and builds on the success of the S5 and S6. The S6 edge has been billed as Samsung's most elegant phone ever.
This is encapsulated with a number of high-end materials, shimmer-effect cases and smooth finishes throughout, making this a hugely aesthetically pleasing model.
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