Samsung Electronics Co Ltd likely saw a 45% jump in profit for January-March on robust sales of smartphones, TVs and home appliances, though chip division earnings are seen tumbling after a storm suspended production at its US plant. Spending more time at home due to the coronavirus pandemic, consumers have splashed out on an array of high-margin consumer electronics which in turn has helped cause a global shortage of semiconductors.
Operating profit for the South Korean tech giant in the quarter is expected to have climbed to $8.2 billion, according to a Refinitiv SmartEstimate drawn from 16 analysts. Samsung is scheduled to announce preliminary first-quarter results on Wednesday. In particular, its mobile division looks like it had a stand-out quarter, benefiting from the launch of its Galaxy S21 series in mid-January – more than a month ahead of the flagship model’s usual annual release schedule.
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