Samsung Galaxy Drives Record Profit as S4 Hits Stores
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Samsung Electronics Co. posted record earnings as sales of its smartphones surged, widening the company’s global lead as its latest Galaxy handset hits stores to take on Apple Inc. in the U.S.
Net income rose 42 percent from a year earlier to 7.15 trillion won ($6.4 billion) in the three months ended March, Samsung said in a statement today. Sales of its smartphones jumped 56 percent to 69.4 million units, almost double the number of iPhones sold by Apple, Strategy Analytics said.