SEOUL: Samsung Electronics flagged a stronger-than-expected operating profit for the first quarter on Tuesday, supported by robust smartphone demand and customer’s concerns ahead of new US semiconductor tariffs, reported German news agency dpa.
The South Korean tech giant estimated its operating profit for the quarter ending in March at 6.6 trillion won (US$4.5 billion), down just 0.2 per cent from the same period last year.
While slightly lower year-on-year, the preliminary figure beat the average analyst estimate by more than 33 per cent, according to a survey by South Korean news agency Yonhap.
Analysts said the upside surprise may be partly due to anticipated US tariffs on semiconductor imports, announced by US President Donald Trump. Fears of rising prices may have driven customers to accelerate purchases in recent weeks, boosting sales.
Samsung, a global leader in smartphones, is seen as a key beneficiary of this temporary surge in demand. – BERNAMA-dpa
