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Samsung Electronics estimates 2.7% rise in Q1 operating profit

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Samsung Electronics' operating profits inched up 2.7 per cent in the first quarter, the world's biggest manufacturer of smartphones and memory chips estimated on Tuesday.

[SEOUL] Samsung Electronics' operating profits inched up 2.7 per cent in the first quarter, the world's biggest manufacturer of smartphones and memory chips estimated on Tuesday.

Operating profit during the January to March period was expected to be around 6.4 trillion won (S$7.44 billion), up 2.7 per cent from a year earlier, Samsung said in an earnings estimate.

Sales were 55 trillion won, five per cent up year-on-year.

Samsung's share price reached a record high in January but has since fallen more than 20 per cent amid concerns over the coronavirus pandemic and its economic repercussions.

AFP

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