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Technology

Samsung braces for prolonged geopolitical and economic fallout

Tech company's Q1 net profit jumps, but Ukraine, China COVID risks lurk

Samsung's profits are solid but the future is clouded by global risks.   © Reuters

SEOUL -- Samsung Electronics said on Thursday that it is bracing for extended global political and economic turmoil, as the war in Ukraine and China's COVID-19 lockdowns increase risks for its businesses, even as net profit for the first quarter surged nearly 60%.

Samsung is sensitive to global circumstances as more than 80% of the South Korean tech company's revenue comes from overseas markets.

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