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NEW DELHI: South Korean tech giant Samsung Electronics has reported a first-quarter operating profit of $5.64 billion, which is 29.6 percent lower than a year earlier.
The mobile division's profit fell 57.4 percent from a year earlier to 2.74 trillion, it was the highest in three quarters as the sales of new mid-range devices like the Galaxy A and Galaxy E series boosted smartphone shipments.
"In the second quarter, the company expects its overall earnings to increase compared to the previous quarter," Samsung said in a statement.
The semiconductor business remained the top earner, reporting a 50.2 per cent profit jump to 2.93 trillion, the highest since the third quarter of 2010. The firm said it saw strong demand for memory chips, while profitability for its system chip business also improved.