Samsung Electronics reports record profit

Samsung Electronics Co., the world’s largest consumer electronics firm by revenues, on Friday reported a record-high profit as strong smartphone sales helped mask a drop in semiconductor and TV profit.

Net profit amounted to 5.05 trillion won ($4.46 billion) for the fiscal quarter ending March 31, compared with 2.78 trillion won a year earlier.

Samsung’s quarterly operating profit also came in at record high: 5.85 trillion won, in line with the company’s guidance provided earlier this month. The operating income doubled from a year earlier.

From: http://ping.fm/5yHWD