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Technology

Samsung sees Q1 profit up 50% on memory chip prices, weak won

But South Korean tech giant's stock performance indicates risks remain

Samsung Electronics appears to be shrugging off the economic repercussions of Russia's war on Ukraine.   © Reuters

SEOUL -- Samsung Electronics on Thursday announced its operating profit is set to have jumped 50.3% in the first quarter from a year earlier, with analysts saying that the world's biggest memory chipmaker benefited from milder memory price declines and a weak local currency.

The company's operating profit for the January-to-March quarter is forecast to come in at 14.1 trillion won ($11.6 billion), according to company earnings guidance. Revenue, meanwhile, is seen hitting 77 trillion won, Samsung said, which would represent an increase of 17.8% from the year before.

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