Published: Mon, April 09, 2018
Technology | By Russell Knight

Samsung Electronics records $14.7 billion in Q1 operating profit

Samsung Electronics records $14.7 billion in Q1 operating profit

Samsung sold through a huge $56.4 billion in Q1 2018, with these sales including the new Galaxy S9 and the near unlimited want for memory across the world with ASIC miners and graphics cards.

Operating income rose to 15.6 trillion won (US$14.7bn) in the three months ended March, according to preliminary results released on Friday from the Suwon, South Korea-based company.

Profits from the mobile unit, which once contributed more than 70 per cent of Samsung's overall profits in its 2012-2014 heyday, accounted for less than 20 per cent of total profit in the fourth quarter previous year. Analysts increased their forecasts of Samsung's memory chip profit this year as demand for data centers and servers increased the prices of the memory chips called DRAM.

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Analysts said Samsung's shares were affected by a UBS report forecasting an increase in the supply of DRAM chips used in servers, which dragged down Micron Technology shares more than 6 per cent on Thursday. "Still, momentum may slow toward the end of this year with price rises likely to be less steep than last year".

Korean tech giant Samsung Electronics is on track for a record first quarter, the company said this morning.

They put this down to Samsung's early launch of its flagship Galaxy S9 device in March, healthy sales of older devices as consumers balk at the high price of new premium models, and a short-term dip in advertising costs.

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The shares of Samsung fell about 1% in Seoul, as the KOSPI index declined on concern over United States tariffs.

While the chip business underpinned Samsung's profit growth, the mobile business - which accounted for 40 per cent of 2017 revenue - appeared to have made a surprisingly solid contribution to first-quarter earnings, analysts said.

The semiconductor business forms the largest portion of Samsung's profit.

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Samsung's chipmaking unit - now dominating the global market after the firm invested tens of billions of dollars each year to build and expand factories - provides chips for Samsung devices as well as those of competitors including Apple.

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