Samsung logos are displayed at the company's flagship store in Seoul on April 7, 2016. Samsung Electronics posted a better-than-expected 10 percent increase in first quarter profits, on robust sales of the South Korean electronics giant's new Galaxy S7 smartphone. / AFP PHOTO / YONHAP / STRINGER / - South Korea OUT / REPUBLIC OF KOREA OUT NO ARCHIVES RESTRICTED TO SUBSCRIPTION USE
SEOUL: Samsung Electronics, the world’s largest smartphone maker, reported a better-than-expected jump in net profits, boosted by the successful early release of its new flagship Galaxy handset.
The result will encourage shareholders after a disappointing 2015 that saw the firm lose more than US$8.0bil (RM31.31bil) in market value, with its smartphone business sandwiched by top-end rivals such as Apple’s iPhone and lower-end devices from fast-growing Chinese outfits Huawei and Xiaomi.
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