Samsung posts better than expected Q1 profit rise
Increase driven by robust sales of electronics giant's new Galaxy S7 smartphone
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Seoul
SAMSUNG Electronics on Thursday posted a better-than-expected 10 per cent increase in first quarter profits, on robust sales of the South Korean electronics giant's new Galaxy S7 smartphone.
The world's largest smartphone producer said that operating profit in the January-March period was expected to reach around 6.6 trillion won (S$7.7 billion), up from six trillion won a year ago. The profit figure was substantially higher than the 5.53 trillion won average of analysts' estimates compiled by Bloomberg News, and up from the 6.1 trillion won posted in the fourth quarter of 2015.
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