Samsung posts R170-billion profit

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Samsung Electronics Co. reported preliminary earnings for the first quarter that beat analysts’ estimates on robust demand for new smartphone models and memory chips that go into servers.

Operating profit increased 50% to 14.1 trillion won for the three months ended March, South Korea’s biggest company said Thursday in a statement. Analysts estimated 13.4 trillion won on average.

Sales advanced 18% to 77 trillion won, also higher than expected. Samsung will provide net income and divisional performance when it reports full earnings on Apr. 28.

 

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