Samsung Electronics says Q1 profit likely rose 44per cent, matching expectations Toggle share menu
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Samsung Electronics says Q1 profit likely rose 44per cent, matching expectations Samsung Electronics Co Ltd on Wednesday said first-quarter profit likely rose 44per cent, with analysts attributing the surge to brisk sales of smartphones and TVs, albeit tempered by a likely fall in chip earnings after a storm halted U.S. output.
FILE PHOTO: The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji/File Photo
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SEOUL: Samsung Electronics Co Ltd on Wednesday said first-quarter profit likely rose 44per cent, with analysts attributing the surge to brisk sales of smartphones and TVs, albeit tempered by a likely fall in chip earnings after a storm halted U.S. output.
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SEOUL (Reuters) -Samsung Electronics Co Ltd on Wednesday said first-quarter profit likely rose 44%, with analysts attributing the surge to brisk sales of smartphones and TVs, albeit tempered by a likely fall in chip earnings after a storm halted U.S. output.
FILE PHOTO: The logo of Samsung Electronics is seen at its store in Seoul, South Korea, October 11, 2017. REUTERS/Kim Hong-Ji
The South Korean technology giant forecast January-March operating profit of 9.3 trillion won ($8.32 billion), matching a weighted average analyst forecast from Refinitiv SmartEstimate.
Analysts said Samsung’s mobile division likely saw operating profit soar more than 1 trillion won to about 4.15 trillion won after its flagship Galaxy S21 smartphone series outsold the previous version by a two-to-one margin in the six weeks since its January launch, according to research provider Counterpoint.
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