A surge in Galaxy smartphone sales fueled earnings at Samsung Electronics to a record high in the first quarter, usually a tough season for the global consumer electronics industry, outshining handset rivals such as Nokia Corp.
Samsung sold more smartphones in the first three months of the year than Apple Inc. and raked in more than 70 percent of its operating profit from mobile businesses. Shares of Samsung Electronics Co. shot up nearly 3 percent.
Net profit nearly doubled from a year earlier to a record 5.05 trillion won ($4.46 billion) for the fiscal quarter ended March 31.
Operating profit also logged a record high: 5.85 trillion won, which was in line with the company's guidance provided earlier this month. Sales rose 22 percent from a year earlier to 45.3 trillion won. Read more...
2011 was a big year for Apple. The company continued to dominate the tablet market, with no rival coming close the iPad in sales. It also released Lion, an update to OS X that delivered hundreds of new features; pushed out a major update to iOS that finally cut the cord for backups and syncing; launched its new cloud service, iCloud (albeit not without some issues); and continued to rack up record sales of Macs.
And, of course, 2011 was the year that Steve Jobs stepped down as CEO because of declining health just weeks before his death on Oct. 5.
On several fronts, Apple seems likely to capitalize on its successes in the coming year. Fueling continued growth in 2012 will be several trends that began this year within the company, the consumer market and enterprise IT. Read more...