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Samsung Electronics profits boosted by smartphone sales | Samsung Electronics profits boosted by smartphone sales |
(35 minutes later) | |
Samsung Electronics has reported a 41% jump in profit for the first quarter, boosted by growing smartphone sales. | Samsung Electronics has reported a 41% jump in profit for the first quarter, boosted by growing smartphone sales. |
It made a net profit of 7.15tn won ($6.4bn; £4.2bn) during the period, up from 5.05tn won a year ago. Profits also rose from the previous quarter. | It made a net profit of 7.15tn won ($6.4bn; £4.2bn) during the period, up from 5.05tn won a year ago. Profits also rose from the previous quarter. |
The results are in sharp contrast with rival Apple, which earlier this week reported a drop in quarterly profits for the first time in a decade. | The results are in sharp contrast with rival Apple, which earlier this week reported a drop in quarterly profits for the first time in a decade. |
Samsung displaced Apple as the world's biggest smartphone maker last year. | Samsung displaced Apple as the world's biggest smartphone maker last year. |
Bryan Ma of research firm IDC said that the South Korean firm was doing "very very well right now". | |
"They have a lot of momentum behind what they are doing around phones, and clearly from a consumer perspective, they have a lot of excitement around their devices. | |
"They have a lot of their competitors wondering what they are going to do." |