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Samsung 1Q profit jumps 44.2% on strong smartphone sales

Top memory chipmaker overcomes losses from Texas plant idled in winter storm

Samsung Electronics, the world's biggest manufacturer of smart phones and memory chips, reported operating profit and sales gains during the first quarter of this year.   © Reuters

SEOUL -- Samsung Electronics said Wednesday that its operating profit rose 44.2% in the first quarter from the same period last year, led by strong sales of smartphones and home appliances during the coronavirus pandemic.

Issuing earnings guidance for January through March, the world's biggest smartphone maker announced that operating profit amounted to 9.3 trillion won ($8.3 billion) during the three-month period. Sales, meanwhile, rose 17.5% to 65 trillion won.

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