(MENAFN - Saudi Press Agency) Samsung Electronics Co on Friday posted record and
better-than-expected operating profits in the first quarter, nearly
doubling them thanks in large part to smartphone sales, dpa reported.
Asia's largest consumer-electronics maker estimated an operating
profit of 5.8 trillion won (5.1 billion dollars) in the
January-to-March quarter, up from 2.95 trillion won in the same
quarter last year.
The results were above the average forecast of 5 trillion won by
analysts and exceeded its previous record of 5.3 trillion won,
generated in the previous quarter.
Revenues rose 22 per cent to 45 trillion won, the Suwon, South
Korea-based company said as it prepared to present full figures later
Samsung is competing for market share in the smartphone and tablet
business against Apple Inc, with which it is locked in patent battles
around the globe.
Samsung has been introducing new smartphone models that have been
well-received, including the Galaxy Note. It is also introducing 3-D
and internet-enabled television as earnings at its chip unit drop.