Samsung reported strong results on Thursday, with profits for the first quarter climbing more than 50% compared to the same time a year ago
The South Korean tech giant pulled in 77.8 trillion Korean won in revenue and 14.1 trillion Korean won in operating profit, roughly in line with its own forecast earlier this month. The solid earnings are attributed to sales of its memory chips, which were up nearly 40% year-on-year, taking in approximately 20.1 trillion won .Samsung's mobile division also benefited from strong sales of its newest lineup of smartphones, which it said "centered on" the flagship Galaxy S22 Ultra.
The company said it would continue to focus on efforts to shore up its stock of chips and image sensors this year. Read MoreSamsung also flagged that it expected weakened consumer sentiment for smartphones due to"prolonged geopolitical conflicts and lockdowns in some areas.
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