Seoul: Samsung Electronics Co. announced on Wednesday that its first-quarter net profit increased by over 20 percent from the previous year, largely driven by the robust performance of its new Galaxy S series smartphones, although its renowned semiconductor division exhibited sluggish growth.
According to Yonhap News Agency, the company reported a net income of 8.22 trillion won (US$5.7 billion) for the January-March period, marking a 21.7 percent increase from 6.75 trillion won a year earlier. This figure surpassed market expectations, as analysts had estimated an average net profit of 5.17 trillion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.
The operating profit for Samsung Electronics stood at 6.68 trillion won, reflecting a 1.2 percent increase from the previous year. Additionally, revenue rose by 10 percent to reach 79.14 trillion won, setting a new record for quarterly revenue.
Samsung Electronics credited the unexpected profit surge to the strong sales performance of its smartphone division. The company's latest Galaxy S25 smartphones, which launched in January, played a significant role in boosting the figures.
The DX division, encompassing mobile, TV, and home appliances businesses, recorded a 28 percent year-on-year increase in sales, totaling 51.7 trillion won, and achieved an operating profit of 4.7 trillion won. Notably, the mobile business alone reported sales of 37 trillion won, with an operating profit of 4.3 trillion won.