Despite Profit Plunge, Samsung Smartphones Outsell Rivals in Q1

Despite Profit Plunge, Samsung Smartphones Outsell Rivals in Q1Samsung is once again the world leader in smartphone sales, according to an article by Samuel Gibbs for The Guardian. The company moved 83.2 million units in the first quarter of this year, whereas its nearest rival, Apple, sold 61.2 million.

It’s very welcome news for Samsung, which found itself in a rather embattled position last year as it struggled to compete with Apple and a gaggle of smaller competitors. It even lost ground to Apple on its home turf of South Korea as its arch rival enjoyed record sales following the release of its latest iPhones.

But it’s not all great news. Samsung’s profits were down 39 percent, with its smartphone profits suffering a particularly harsh decline against Q1 of 2014, dropping 58 percent. Nevertheless, the company says it expects profits to climb of Q2 as its newly-launched Galaxy S6 and S6 Edge smartphones continue to find their way into consumers’ hands. Nobody knows just how much those profits will rise, of course, but it’s possible that the launch of Samsung Pay, the company’s own entry in the growing mPayment competition, will help bolster consumer demand.