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Samsung Q1 Operating Income Up 50%

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) reported that its operating income for the first quarter rose 50.50% to 14.12 trillion Korean won from 9.38 trillion won in the previous year.

Sales for the quarter were 77.78 trillion won up 18.95% from 65.39 trillion won in the prior year.

Looking to the second quarter, Samsung expects server demand to remain relatively solid. It expects a decline in mobile displays earnings compared to the previous quarter because of prolonged geopolitical conflicts and lockdowns in some regions.

In the second quarter, smartphone market demand is forecast to slightly decline quarter-on-quarter amid continued seasonal effect with uncertainties over Covid-19 and geopolitical issues.

For the second quarter, the company expects TV demand to decline both quarter-on-quarter and year-over-year due to increased outdoor activities and continued market uncertainties.

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