Samsung earned a profit worth $7.9 billion in Q1 2013

Samsung released it's first quarter earnings press release this morning, it made an operating profit of $7.9 billion in the Q1 of 2013, matching its guidance and representing a more than 50% improvement on its performance last year. Revenues were $47.6 billion, and net profit was $6.45 billion.

Samsung stated that strong smartphone sales combined with a reduction in its marketing costs was one of the leading causes of its quarterly success. But I suppose such a decent turnover isn't surprising considering that the company sold 3 out of every 10 smartphones last quarter, and still holds an impressive 30% share of the smartphone market.

This month's much-anticipated launch of the Samung Galaxy S4 will make a large impact on Samsung's next quarter, too, though the company warns of increased competition and lower global demand for smartphones.

Source: Samsung Earnings Press Release