Samsung reports record profits in Q1 2018, up 58% YoY, mobile profits up 82% YoY

Samsung has reported its earnings for Q1 2018, in which the company has made operating profit of 15.64 trillion won ($14.4 billion), up 58% YoY for the January-March 2018 period. This is a fourth straight record profit, and new all-time high quarterly profit, due to strong sales in Semiconductor Business and the early global launch of the Galaxy S9. It reported revenue of 60.56 trillion won, an increase of 19.8% from 50.55 trillion won last year and net profit of 11.69 trillion won, a 52.2% increase from 7.68 trillion won for the same period a year earlier. IM sector that includes Mobile Communications and Networks Businesses posted 28.45 trillion won consolidated revenue and 3.77 trillion won operating profit for the quarter, up 82% compared to 2.07 trillion won in the same quarter last year. Regarding the shipments and the expectations in mobile sector, Samsung said: While overall market demand for smartphones and tablets declined during weak seasonality, Samsung’s smartphone shipments increased QoQ due to an early release of the Galaxy S9 and S9+ as well as solid sales of the Galaxy S8. As a result of increased sales, mainly driven by premium models, revenue and profit significantly increased both QoQ and YoY. Earnings for the ...