Samsung
Electronics Co., the world largest maker of smartphones, posted
first-quarter profit that beat analysts estimates as demand rose for
cheaper Galaxy devices and the soccer World Cup boosted TV sales. Net income, excluding minority interests, rose 7 percent to 7.48 trillion won ($7.2 billion) in the three months ended March, the Suwon, South Korea-based company said in a filing today. That compares with the 6.75 trillion-won average of 19 analyst estimates compiled by Bloomberg.
Selling smartphones from less than $150 to more than $900 and expanding its range of tablet computers helped Asia biggest technology company weather slowing growth in the high-end smartphone segment before releasing its marquee Galaxy S5.
Ultra high definition televisions and sets with curved screens are being introduced to revive sales as mobile-phone competition from Chinese manufacturers hits prices at its components unit.
Shares of Samsung fell 1.5 percent to 1,367,000 won as of 10:59 a.m. in Seoul, erasing its gain for this year. The stock dropped 9.9 percent last year, its first annual decline since 2008.
Source : Bloomberg
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