Handset number one Samsung is set to report a better than expected profit for the first quarter of 2013, which observers have attributed to the breadth of its smartphone portfolio across price points.

While the company’s premium product portfolio has lost some of its lustre ahead of the launch of its Galaxy S4, which is set to reach the market imminently, Reuters suggested that “sales of mid-tier smartphones helped the South Korean giant tide over the off-peak season”.

Samsung today said it expects to report an operating profit of KRW8.5 trillion to KRW8.9 trillion ($7.5 billion to $7.86 billion), on revenue of KRW51 trillion to KRW53 trillion.

This compares with an operating profit of KRW5.69 trillion on revenue of KRW45.27 trillion in the first quarter of 2012, and an operating profit of KRW8.84 trillion on revenue of KRW56.06 trillion in Samsung’s strong prior sequential quarter.

Indeed, it is notable that the company has largely maintained its momentum from the seasonally strong Q4 into the notably weaker Q1.

Earlier this year, Samsung warned that the growth previously seen in the smartphone market is “expected to be pacified by intensifying price competition compounded by a slew of new products”.

The company also said that it is likely to see a slowdown in its feature phone business, although this will be replaced by growth in low-cost smartphones for emerging markets – a sector where the handset number one also plays.

Earlier this year, Samsung unveiled Galaxy Young and Galaxy Flame targeting the entry level, while this week it announced Galaxy Star and Galaxy Pocket Neo, which are described as “perfect for the younger generation of mobile users”.