Samsung Q1 Profit Climbs
SEOUL (dpa-AFX) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported a profit for the first-quarter that climbed 45.06 percent from last year, reflecting strong demand for mobile devices and other technology during the pandemic. Quarterly revenue grew 18.19 percent from the prior year.
Looking ahead for the second quarter, the company expects earnings at the semiconductor business is to increase as memory market conditions improve on the back of strong server demand.
The Foundry Business has seen a full resumption of production at the Austin fab, while the System LSI Business is expected to continue to be impacted from the previous quarter s foundry disruption.
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Samsung Electronics Co Ltd snatched back the crown from Apple as the world s biggest smartphone producer, accounting for a fifth of overall global sales in the first quarter, market research firm Canalys said. China s Xiaomi Corp clocked its best quarterly performance ever, with shipments surging 62% to 49 million phones and market share to 14%, taking it to the third position after Samsung and Apple. Overall, global sales surged 27% to 347 million units in the first quarter as the Chinese economy opened up after the pandemic and a swift vaccine rollout in the United States raised hopes of an economic recovery. South Korea s Samsung shipped 76.5 million smartphones in the quarter to grab a 22% share of the market, Canalys said. The company on Thursday reported a 66% surge in quarterly profit in its mobile business, thanks to robust sales of its flagship Galaxy S21 smartphone series.
By Syndicated Content
By Aakriti Bhalla
(Reuters) â Samsung Electronics Co Ltd snatched back the crown from Apple as the worldâs biggest smartphone producer, accounting for a fifth of overall global sales in the first quarter, market research firm Canalys said https://www.canalys.com/newsroom/canalys-worldwide-smartphone-market-Q1-2021.
Chinaâs Xiaomi Corp clocked its best quarterly performance ever, with shipments surging 62% to 49 million phones and market share to 14%, taking it to the third position after Samsung and Apple.
Overall, global sales surged 27% to 347 million units in the first quarter as the Chinese economy opened up after the pandemic and a swift vaccine rollout in the United States raised hopes of an economic recovery.