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Samsung posts best Q1 results ever, despite declining smartphone profitability

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James Talbot
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Samsung has released its financial report for the first quarter of the year that ended on March 31.

As expected, the first three months of the year have been great for the tech giant, as it generated 50.55 trillion won or around $45 billion in revenue.

Operating profit increased by 48 percent when compared with the year before and stood at 9.9 trillion won (around $8.8 billion), which makes Q1 Samsung’s second-best quarter ever and the most profitable first quarter in its history.

The company also managed to increase its net profit by 46 percent when compared with the same period a year ago — 7.68 trillion won (around $6.8 billion).

What’s interesting is that Samsung achieved great financial results despite the fact that sales of its mobile division declined.

The smartphone business brought in an operating profit of 2.07 trillion won (around $3.4 billion), which is down 47 percent from the year before.

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James Talbot
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