Samsung profits up on demand for latest smartphones

The net profit of smartphone market leader Samsung increased in the first quarter thanks to strong sales of its new S7 models.

Net profit rose 14 per cent year-on-year to 5.25 trillion won (4.57 billion dollars), the South Korean company said Thursday.

There was strong demand for the Galaxy S7 and Galaxy S7 Edge models which both went on sale in March.

Demand for smartphones is expected to stagnate in the second quarter, the company said.

Samsung is also the world’s largest manufacturer of memory chips and televisions.

Last update: Thu, 28/04/2016 - 12:34

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