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

More from Science & Tech

Electric car manufacturer Tesla recalls charging adapters

US electric car manufacturer Tesla on Tuesday issued a recall of charging adapters for its electric cars which could...

Facebook, Twitter, YouTube to share terrorist content database

Internet giants Facebook, Twitter, Microsoft and YouTube plan to develop a shared database of deleted content deemed...

Lost Russian space freighter sought in Siberia, near Mongolian border

Search teams on Friday were looking for a missing Russian space freighter believed to have crashed in southern...

Reddit to crack down on "toxic" Trump users

US-based news sharing and discussion website Reddit will take action against "toxic users," in particular some of...

Facebook accidentally deletes some of founder Zuckerberg's posts

The social media website Facebook accidentally deleted posts by its founder Mark Zuckerberg on Tuesday, including...