South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 per cent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs.
The firm said it expected improved earnings in the second half if 鈥榰ncertainties are diminished鈥�.
The results come as Seoul and Washington work to craft a 鈥榯rade package鈥� intended to roll back US president Donald Trump鈥檚 new tariffs ahead of the July 8 expiration of a reciprocal tariff freeze.
Samsung Electronics is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia鈥檚 fourth-largest economy.
The world鈥檚 largest memory chipmaker reported net profit of聽8.22 trillion won ($5.75 billion) for the January鈥揗arch quarter, up 21.7 per cent on-year. Sales rose 10 per cent to an all-time quarterly high of 79.14 trillion won and operating profit rose 1.2 per cent to 6.7 trillion won on-year. 鈥� AFP