Samsung Electronics Co., the world's top maker of smartphones, is expected to reap a solid operating profit in the second quarter on robust sales of its Galaxy S4 line-up, analysts said Friday.
According to NH Nonghyup Securities Co., the tech giant is anticipated to see its operating profit reach 11.7 trillion won ($10.4 billion) in the April-June period, up 74.6 percent from 6.7 trillion won tallied last year.
The strong earnings outlook came as the global sales of its Galaxy S4 smartphones have surpassed the 10-million mark on Thursday since its release in late April.
The milestone came 20 days faster than its predecessor, the Galaxy S3. It took seven months and five months respectively for the Galaxy S and Galaxy S2 to reach that milestone.
NH Nonghyup said despite the government's stricter rules on providing subsidies to smartphone buyers which dented demand at home, the Galaxy S4 model boasted robust sales on the global market, adding to the firms' earnings.
The brokerage house said Samsung Electronics will see its sales of the new smartphone model surpass the 20-million mark by June, maintaining its "buying" recommendation for investors. (Yonhap News)
