Samsung Electronics expects to report a 53% rise in operating profits for the first quarter of 2013, buoyed by sales of its Galaxy smartphones.

Samsung estimated its January-March operating profits climbed to about KRW8.7 trillion (US$7.7 billion) from KRW5.69 trillion during the same period of 2012.

The forecast figure shows a slight decrease from the record of KRW8.84 trillion set in the fourth quarter of 2012.

Consolidated sales for the first quarter of 2013 are forecast to reach KRW51-53 trillion, compared to the KRW56.06 trillion posted in the prior quarter and KRW45.27 trillion a year ago.

With the Samsung Galaxy S4 scheduled to hit market shelves later this month (April 2013), the vendor is likely to see its operating profits hit a new record high in the second quarter, market watchers expect.

In addition to being a top smartphone maker, Samsung is also the world's largest supplier of memory chips and flat-panel TVs.

By: DocMemory
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