Tech giant Samsung Electronics has flagged a 44 percent rise in first quarter operating profit, largely driven by robust sales of smartphones and the launch of its flagship Galaxy S21 series.
The company said Wednesday in its earnings guidance that it estimated its operating profit at 9.3 trillion won for January to March, up from 6.45 trillion won a year earlier.
Samsung Electronics is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled chaebols that dominate business in South Korea, the world's 12th largest economy.
Coronavirus-driven working from home has been boosting demand for devices powered by Samsung's chips, as well as home appliances such as TVs and washing machines.
Analysts say the the company has had a particular boost from rolling out its Galaxy S21 series with a lower starting price in January, ahead of its usual launch schedule.
Samsung said it will release its detailed earning later this month.
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