Samsung Electronics released its first-quarter earnings report for 2018, showing operating profit of 15.64 trillion won (about 14.4 billion US dollars), a record high; net profit of 11.6 trillion won (about 10.7 billion US dollars), an increase of 52.11% .
In the financial report, Samsung said that its net profit will continue to rise, mainly because demand for memory chips will continue to be strong, but the profitability of its mobile phone business declined steadily.
Samsung's chip business achieved operating profit of 11.6 trillion won in the quarter, which is 3 times that of the mobile phone business. Samsung controls approximately two-thirds of the global DRAM market. The company launched the Galaxy S9 flagship mobile phone in February this year. Its mobile phone business operating profit was 3.77 trillion won in the quarter.
As for Samsung’s display business, its operating profit for the first quarter was 410 billion South Koreans, while its operating profit for the consumer electronics business was 280 billion won, which is lower than the 410 billion won for the same period last year.
