Samsung Now Officially More Profitable Than Apple
A revival of its semiconductor business has helped Samsung to post yet another record profit in the past quarter. The company's improved sales of memory chips for phones, servers and game consoles helped offset flat growth in Samsung's high-end smartphone business. Facing similar problems as Apple in the high-end smartphone market, Samsung warned investors that growth in the premium segment would remain tepid in the near future. However, the company is hoping for strong growth in tablet sales as it is gradually narrowing the gap with market leader Apple.
With a net profit of 8.24 trillion Won ($7.66 billion), Samsung managed to outperform Apple profit-wise for the second consecutive quarter. The Korean electronics giant may have to move a lot more units than Apple to achieve that profit, but it is a testament to the company's overall health that it manages to turn a sizeable profit while competing in so many different markets.
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