The Colorado Springs Gazette final

Samsung profits up on phone, TV sales

SEOUL, SOUTH KOREA • Samsung Electronics said Thursday its operating profit for the last quarter jumped 46% from a year earlier driven by increased sales of smartphones and televisions as its business continues to flourish amid the pandemic.

The South Korean tech giant also said its quarterly revenue of 65.39 trillion won ($59 billion) was its highest for the first three months of the year.

The company’s operating profit of 9.38 trillion won ($8.5 billion) would have been higher it not for an two underperforming semiconductor business, which was impacted by a storm-related shutdown at its chip plant in Austin in February and declining prices of NAND memory chips.

Samsung said it expects its chip business to rebound in the current quarter, driven by stronger demands in servers and a resumption of full operations at its Austin plant. However, the company expects its profit from mobile devices to decline during the period due to supply shortages of some components and slowing sales of its flagship smartphones.

BUSINESS

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2021-04-30T07:00:00.0000000Z

2021-04-30T07:00:00.0000000Z

https://daily.gazette.com/article/281964610577541

The Gazette, Colorado Springs