LAHORE  : Samsung Electronics Co Ltd announced revenues of 52.87 trillion won on a consolidated basis for the first quarter ended March 31, 2013, a 6pc decrease from the previous quarter. Consolidated operating profit for the quarter reached 8.78 trillion won, representing a 1-percent decline (QoQ), while consolidated net profit for the same quarter was 7.15 trillion won. Samsung estimated first quarter consolidated revenues would reach approximately 52 trillion won with consolidated operating profit of approximately 8.7 trillion won.

Highlighting the quarterly performance, the IT & Mobile Communications (IM) Division which comprises the Mobile Communications, Networks, and Digital Imaging businesses, achieved profitable results backed by strong smartphone sales coupled with reduced marketing expenses.

The IM Division rang up the first quarter with revenues of 32.82 trillion won, a 7-percent increase from the previous quarter. Sound sales of GALAXY S III and GALAXY Note II devices aided profit margins for Mobile Communications, but in the second quarter global demand for smartphones is forecast to dampen, compounded by heightened competition. The January-to-March quarter again proved trying on the PC business, while the Networks Business came around with a stable supply of Long Term Evolution (LTE), fourth-generation (4G) telecommunications equipment.

Demand for consumer electronics products in emerging markets stemmed further sales losses but weak seasonality and a sluggish economy took their toll on Samsung’s sales of TVs and home appliances.