Samsung 'crushes' Apple with its earnings report

Apple reported its financial earnings almost a week ago and even though it beat some predictions and brought in billions of dollars in net profit there are still signs that the company is somewhat struggling. And this becomes even more evident now that Samsung's financial report is out.

Samsung's financials show that the company's profit soared by 42% in this quarter compared to the same time last year and that amounts to about $6.5 billion. Apple on the other hand reported its first profit decline in almost a decade.

Samsung also did well in terms of volume sales with research firms estimating that the Korean company sold around 70 million smartphone devices, almost double when compared to Apple's 37 million iPhones.  Hyun Joon Kim, Samsung's vice president of mobile planning said:

Our business earnings grew from the previous quarter driven by an increase in smartphone sales and decreased marketing expenses

The company has done well on account of its Galaxy S III and Note II devices that have sold in record numbers. And now that Samsung has launched its brand new S4 flagship they're expected to remain a very fierce adversary for a struggling Apple.

Via: Wired Source: Samsung | Image via Neowin/Tim Schiesser

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