Samsung profits increase as Galaxy S4 hits stores

Samsung Electronics posted a 42% increase in net income for the first quarter, to $6.5 billion, while revenue was up 17% from a year ago to $47.5 billion. The company credited strong sales of the Galaxy S III smartphone and Galaxy Note handsets for the increases, while it also reduced marketing expenditures for mobile devices. Samsung began sales in this quarter of its Galaxy S4 phone, which is expected to outsell the Galaxy S III.

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