Samsung Expects 1Q2013 Earnings Of $7.7B, Up 53% Thanks To Smartphone Sales
Samsung said that it expects to post first quarter operating profit of about 8.7 trillion won ($7.7 billion USD), up 53 percent from the 5.7 trillion won operating profit it earned a year earlier. The South Korean tech giant also said that its sales likely rose to between 51 trillion won and 53 trillion won from 45.3 trillion won a year earlier. Sales of its more than 30 smartphones models helped increase shipments to a record high in the first quarter despite the post-holiday shopping slump that hit rival Apple. Five analysts cited by Reuters said that Samsung likely shipped 68 million to 70 million smartphones, up from 63 million in the fourth quarter of 2012. In comparison, iPhone shipments likely fell 30 percent to the 30 million range from 47.8 million in the fourth quarter, the analysts said. Earnings have grown on sales of the Galaxy S and Note series, but analyst Lee Sun-tae of NH Investment & Securities told Reuters that Samsung will probably begin to rely increasingly on mid-tier ...
NASA IG Paints Bleak Picture For Agency Projects
coondoggie writes "The bottom line for NASA as well as any number of government agencies in this new era of sequestration is money — and NASA in this case has too many programs chasing too few dollars. That is just one of a number of bleak conclusions NASA's Inspector General Paul Martin laid out to a Congressional hearing adding that 'declining budgets and fiscal uncertainties present the most significant external challenges to NASA's ability to successfully move forward on its many projects and programs. For the first 6 months of this year, NASA has operated under a continuing resolution that funds the Agency at last year's level of $17.8 billion. Moreover, NASA's share of the Government-wide sequestration cuts reduce that spending authority by $894 million.'"
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