Samsung expects its latest Galaxy S5 flagship smartphone to outsell its predecessor the Galaxy S4, based on early sales figures.
The firm made the claims during its first-quarter earnings release, where it announced profits of 7.57tn won (£4.4bn), up two percent compared with the previous quarter.
Overall, the firm took in 53.68tn won (£31bn) in the quarter. This was down nine percent on the previous quarter – during the traditionally strong Christmas period – but up on the same period last year.
The IT & Mobile Communications division at Samsung generated revenues of 32.44tn won (£18.7bn), leading to profits of 6.43tn won (£3.7bn). This was despite a fall in demand for smartphones and tablets, Samsung said.
“Operating profits for the division jumped 18 percent compared with the previous quarter thanks to steady smartphone shipments, efficient execution on marketing expenditures and a positive impact from adjustments of one-off expenses,” Samsung said.
Samsung did not give specific figures for S5 sales, but its bullish claim that it will outsell the S4 so soon after launch suggests they have been strong. For comparison, 10 million Galaxy S4 units were sold during the first month after it was released in April 2013.
Samsung revealed that tablet shipments in Q1 had been nearly 13 million, a strong number for what it said is usually its quietest quarter after the holiday season, with new devices such as the Note Pro boosting its portfolio.
The firm also said it is confident that it will post strong financials for the rest of 2014, driven by uptake of TVs due to the World Cup in Brazil, and plans to launch more wearable devices. It also said it expects the Knox business service to help build its strength among enterprises users.
Neil Martin of Panda Security discusses Epic Games' decision to avoid the Google Play Store in its Android release of its popular game Fortnite
Musk went public on privatisation plan "because I felt it was the right and fair thing to do so"
Intel's 9th generation Core CPUs will be released on 1 October along with Z390 motherboards
Short-sellers burnt by Musk's "false and misleading" tweets the first to file suit