Samsung Electronics beat forecasts with a 37 percent rise in quarterly profit amid strong demand for mobile phones in emerging markets. Its outlook remained solid due to strengths in TV screens and handsets, lifted by a softer Korean won and robust demand.
Samsung earned 2.19 trillion won ($2.2 billion) in the January-March period compared with 1.6 trillion won in the same period last year. Sales rose 19 percent to 17.11 trillion won ($17.19 billion), the company said. "Our handset business is growing very strong," said Chu Woo-sik, executive vice president for investor relations. Chu cited 33 percent growth in handset sales year-over-year. Emerging markets, including China and India "continued to be the main driver of growth," he said. In a separate statement, Samsung said mobile phone sales "achieved similar volume" to the fourth quarter's record sales of 46.3 million handsets, despite contraction of about 13 percent in the global market. On Tuesday, the group's long-serving chairman announced his resignation over a scandal that led to his indictment on tax evasion and other charges.
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