Samsung Electronics posts 22pc jump in Q1 net profit

SEOUL, Apr 30 (AFP): South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 per cent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs.
The firm said it expected improved earnings in the second half if "uncertainties are diminished".
The results come as Seoul and Washington work to craft a "trade package" intended to roll back US President Donald Trump's new tariffs ahead of the July 8 expiration of a reciprocal tariff freeze.
Samsung Electronics is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy.
The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January-March quarter.