Samsung Electronics says first-quarter profit likely rose 44%, matching analysts' estimate

  • 📰 Reuters
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 97%

Technology Technology Headlines News

Technology Technology Latest News,Technology Technology Headlines

Samsung Electronics Co Ltd on Wednesday said first-quarter profit likely rose 44%, which analysts attributed to brisk sales of home appliances, smartphones and TVs, though chip earnings likely fell after a winter storm halted U.S. output.

The South Korean technology giant forecast January-March operating profit of 9.3 trillion won , in line with a 9.3 trillion won analyst forecast from Refinitiv SmartEstimate.

Revenue likely rose 17% from the same period a year prior to 65 trillion won, the firm said in a short preliminary earnings release.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.

A lower starting price for the flagship helped sales for the world’s largest smartphone maker during the quarter, with the S21 priced $200 lower than the S20, Counterpoint said. In its chip division, analysts said profit likely fell about 20% to 3.6 trillion won due to the cost of ramping up new domestic production and losses at its Texas factory following a mid-February stoppage, blunting the benefits of globally strong demand.

Profit in Samsung’s television set and home appliance business likely more than doubled to around 1 trillion won, analysts said, due to continued stay-at-home demand.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

𝚆𝚑𝚎𝚗 𝚒 𝚕𝚘𝚜𝚝 𝚖𝚢 𝚓𝚘𝚋, 𝙸 𝚝𝚑𝚘𝚞𝚐𝚑𝚝 𝙸'𝚟𝚎 𝚕𝚘𝚜𝚝 𝚒𝚝 𝚊𝚕𝚕 ...𝚠𝚒𝚝𝚑 𝚝𝚑𝚎 𝚕𝚒𝚝𝚝𝚕𝚎 𝚌𝚊𝚜𝚑 𝚘𝚏 £300 𝙼𝚛s Ricardolucia226 𝚝𝚞𝚛𝚗𝚎𝚍 𝚝𝚑𝚊𝚝 𝚒𝚗𝚝𝚘 £5000 𝚒𝚗 𝚓𝚞𝚜𝚝 5𝚍𝚊𝚢𝚜 😃😃 she 𝚖𝚊de my day

Because Samsung is selling deffective devices and not responding for them. I got a new phone and a new tv both broken in the same month. They fabricated I was the one responsible... 44% fuckin whatever. Youre walking out of this pandemic with lots of ex customers.

If they invest $avax will rise %1000 Samsung 👍

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines