Samsung profit forecast beats market expectations

Samsung Electronics has announced its highest ever first quarter sales forecast.

Samsung Electronics has announced its highest ever first quarter sales forecast.

The firm is the flagship subsidiary of South Korean giant Samsung Group, which is the largest of the dominant businesses in Asia's fourth-largest economy.

The tech giant said its operating profit for the January-March period is expected to rise to 6.6 trillion won ($4.5 billion), down 0.15 percent from a year earlier and up nearly 2 percent from the previous quarter.

Sales are also expected to rise to 79 trillion won, a nearly 10% jump from a year earlier, marking the highest first-quarter figure on record and the second-highest quarterly revenue on record.

The company did not disclose its net profit or details of its business units' earnings.

Analysts attributed the high figures to record sales of the new Galaxy S25 series of phones, which was launched in February.

The series became the fastest-selling Galaxy device, reaching one million units sold in the shortest time - within 21 days.

Samsung shares rose more than 2 percent in Seoul. | BGNES, AFP

 

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