Samsung to report record Q1 as profits double

Samsung Electronics on Friday reported unaudited earnings results for the first calendar quarter of 2012. Following a record holiday quarter that saw the company pull in a profit of 5.3 trillion Korean won on sales of 47 trillion won, Samsung expects to report an operating profit of 5.8 trillion won — nearly twice its profit the first quarter last year — and revenue of approximately 45 trillion won. Samsung’s Galaxy S II smartphones are still among carriers’ best-selling smartphones in the United States, and the South Korea-based consumer electronics giant recently announced that sales of its massive Galaxy Note “phablet” topped 5 million units.