comscore Samsung Electronics first quarter net profits up by more than half
News

Samsung Electronics first quarter net profits up by more than half

Samsung has recovered from a series of setbacks to post record profits in recent quarters

  • Updated: April 26, 2018 8:24 AM IST
samsung galaxy s9 review camera 2

South Korean telecoms giant Samsung Electronics saw net profits leap by more than half in the first quarter, it said today, thanks to strong demand for memory chips and its latest high-end smartphone. Also Read - Best battery smartphones under Rs 15,000: Redmi Note 10T, Realme Narzo 30 and more

The firm, the world’s biggest maker of memory chips and the flagship subsidiary of the sprawling Samsung group, has recovered from a series of setbacks to post record profits in recent quarters. Also Read - Upcoming phone launches to expect in August 2021: Redmi 10, iQOO 8, Realme GT, Samsung Galaxy A52s, more

It faced an embarrassing global recall of the Galaxy Note 7 device over exploding batteries in 2016, and last year its vice-chairman Lee Jae-yong, scion of Samsung’s founding family, was jailed for his part in the sprawling corruption scandal that brought down president Park Geun-hye. He has since been released after some of his convictions were quashed on appeal, and the firm’s shareholders have seen its value soar. Also Read - Top 5G smartphones under Rs 20,000 in August 2021: Samsung A22 5G, Redmi Note 10T, etc

Net profit for the January to March period rose 52 percent to hit 11.69 trillion won (USD 10.8 billion), up from 7.68 trillion won a year earlier, the company said in a regulatory filing. Operating profit was a record 15.64 trillion won, in line with the estimate of 15.6 trillion won suggested in a preliminary guidance report released earlier this month.

“The semiconductor business posted solid earnings — 11.55 trillion won in operating profit on a 20.78 trillion won revenue — on strong demand for memory chips,” the company said in a statement. The semiconductor business’ earnings performance was driven by demand for memory chipsets for high-value-added servers and graphics products. The global launch of its new flagship smartphone, the Galaxy S9, as well as strong demand for chips used for smartphones and crypto-currency mining also contributed to the rise in profitability.

This is published unedited from the PTI feed.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: April 26, 2018 8:23 AM IST
  • Updated Date: April 26, 2018 8:24 AM IST


You Might be Interested

Samsung Galaxy S9

24999

Android 8.0 Oreo
Samsung Exynos 9810 octa-core SoC
Super Speed Dual Pixel 12 MP OIS (F1.5/F2.4)

new arrivals in india

Tecno Pova 2
Tecno Pova 2

10,999

Infinix Smart 5A
Infinix Smart 5A

6,499

Micromax In 2b
Micromax In 2b

8,999

Vivo Y72 5G
Vivo Y72 5G

20,990

Tecno Camon 17
Tecno Camon 17

12,999

Tecno Camon 17 Pro
Tecno Camon 17 Pro

16,999

Realme C11 2021
Realme C11 2021

6,999

Oppo Reno6 Pro 5G
Oppo Reno6 Pro 5G

39,990

Oppo Reno6 5G
Oppo Reno6 5G

29,990

Samsung Galaxy M21 2021
Samsung Galaxy M21 2021

12,499

OnePlus Nord 2
OnePlus Nord 2

27,999

Poco F3 GT
Poco F3 GT

27,999

Samsung Galaxy A22 5G
Samsung Galaxy A22 5G

19,999

Xiaomi Redmi Note 10T 5G
Xiaomi Redmi Note 10T 5G

13,999

Samsung Galaxy F22
Samsung Galaxy F22

12,499

Xiaomi Mi 11 Lite
Xiaomi Mi 11 Lite

21,999

Infinix Note 10 Pro
Infinix Note 10 Pro

16,999

Infinix Note 10
Infinix Note 10

10,999

Vivo Y73
Vivo Y73

20,990

OnePlus Nord CE 5G
OnePlus Nord CE 5G

22,999

iQOO Z3
iQOO Z3

19,990

Realme C25s
Realme C25s

9,999

Poco M3 Pro 5G
Poco M3 Pro 5G

13,999

Realme X7 Max 5G
Realme X7 Max 5G

26,999

Oppo F19
Oppo F19

18,990

Motorola Moto G40 Fusion
Motorola Moto G40 Fusion

13,999

POCO M2 Reloaded
POCO M2 Reloaded

9,499

OPPO A74 5G
OPPO A74 5G

17,990

Oppo A53s 5G
Oppo A53s 5G

14,990

Vivo V21 5G
Vivo V21 5G

29,990

Realme C25
Realme C25

9,499

Realme C21
Realme C21

7,999

Realme C20
Realme C20

6,799

Motorola Moto G60
Motorola Moto G60

17,999

iQOO 7
iQOO 7

31,990

Samsung Galaxy M42 5G
Samsung Galaxy M42 5G

21,999

Xiaomi Mi 11 Ultra
Xiaomi Mi 11 Ultra

69,999

Xiaomi Mi 11X Pro 5G
Xiaomi Mi 11X Pro 5G

39,999

Xiaomi Mi 11X
Xiaomi Mi 11X

29,999

Realme 8 5G
Realme 8 5G

13,999

Samsung Galaxy F02s
Samsung Galaxy F02s

8,999

Samsung Galaxy F12
Samsung Galaxy F12

10,999

POCO X3 Pro
POCO X3 Pro

18,999

Realme 8 Pro
Realme 8 Pro

17,999

Realme 8
Realme 8

14,999

Vivo X60 Pro Plus
Vivo X60 Pro Plus

69,990

Vivo X60 Pro
Vivo X60 Pro

49,990

Vivo X60
Vivo X60

37,990

OnePlus 9 Pro 5G
OnePlus 9 Pro 5G

64,999

OnePlus 9R 5G
OnePlus 9R 5G

39,999

OnePlus 9 5G
OnePlus 9 5G

49,999

Samsung Galaxy A72
Samsung Galaxy A72

34,999

Samsung Galaxy A52
Samsung Galaxy A52

26,499

Micromax In 1
Micromax In 1

10,499

Asus ROG Phone 5
Asus ROG Phone 5

49,999

Samsung Galaxy M12
Samsung Galaxy M12

10,999

Motorola Moto G30
Motorola Moto G30

10,999

Motorola Moto G10 Power
Motorola Moto G10 Power

9,999

Oppo F19 Pro Plus 5G
Oppo F19 Pro Plus 5G

25,990

Oppo F19 Pro
Oppo F19 Pro

21,490

Xiaomi Redmi Note 10 Pro Max
Xiaomi Redmi Note 10 Pro Max

18,999

Xiaomi Redmi Note 10 Pro
Xiaomi Redmi Note 10 Pro

15,999

Xiaomi Redmi Note 10
Xiaomi Redmi Note 10

11,999

Realme Narzo 30A
Realme Narzo 30A

8,999

Realme Narzo 30 Pro
Realme Narzo 30 Pro

16,999

Infinix Smart 5
Infinix Smart 5

7,199

Samsung Galaxy F62
Samsung Galaxy F62

23,999

Samsung Galaxy A12
Samsung Galaxy A12

12,999

Nokia 5.4
Nokia 5.4

13,999

Nokia 3.4
Nokia 3.4

11,999

Realme X7 Pro 5G
Realme X7 Pro 5G

29,999

Realme X7
Realme X7

19,999

Vivo Y31
Vivo Y31

16,490

Oppo Reno5 Pro 5G
Oppo Reno5 Pro 5G

35,990

Samsung Galaxy S21 Ultra 5G
Samsung Galaxy S21 Ultra 5G

1,05,999

Samsung Galaxy S21 Plus 5G
Samsung Galaxy S21 Plus 5G

81,999

Samsung Galaxy S21 5G
Samsung Galaxy S21 5G

69,999

Vivo Y12s
Vivo Y12s

9,990

Vivo Y51A
Vivo Y51A

17,990

Samsung Galaxy M02s
Samsung Galaxy M02s

8,999

Xiaomi Mi 10i
Xiaomi Mi 10i

21,999

Oppo A15s
Oppo A15s

11,490

Tecno Spark 6 Go
Tecno Spark 6 Go

8,499

Vivo V20 2021
Vivo V20 2021

24,990

Vivo Y20A
Vivo Y20A

11,490

Xiaomi Redmi 9 Power
Xiaomi Redmi 9 Power

11,999

Motorola Moto G9 Power
Motorola Moto G9 Power

11,999

Motorola Moto G 5G
Motorola Moto G 5G

20,999

Vivo V20 Pro
Vivo V20 Pro

29,990

Xiaomi Mi 10T
Xiaomi Mi 10T

35,999

Xiaomi Redmi 9i
Xiaomi Redmi 9i

8,299

Xiaomi Mi 10T Pro
Xiaomi Mi 10T Pro

39,999

Infinix Hot 10
Infinix Hot 10

9,999

Vivo V20 SE
Vivo V20 SE

20,990

Vivo V20
Vivo V20

24,990

Micromax In 1b
Micromax In 1b

6,999

Best Sellers