Samsung Electronics forecasts rise in quarterly profit

  • Samsung Electronics has forecast a 53 percent increase in profit for the first three months of the year on the back of growing smartphone sales.

    It expects to make an operating profit of $7.7 billion for the period, compared to $5.4 billion a year ago.

    Samsung has reaped in massive rewards with its Galaxy range of smartphones.

    Last year, it toppled Apple to become the world's biggest smartphone maker.

    Samsung, also the world's biggest maker of memory chips, will release it final quarterly results on April 26.

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