SEOUL: South Korean tech giant Samsung Electronics posted a 46.3-percent rise in first-quarter net profits on Thursday, largely driven by robust sales of its smartphones and home appliances due to continued stay-at-home demand. Samsung Electronics said net profits rose 46.3 percent in January to March from a year earlier to 7.1 trillion won ($6.4 billion). “Solid sales of smartphones and consumer electronics outweighed lower earnings from semiconductors and displays,” the firm said in an earnings report. But the pandemic — which has killed more than 2 million people worldwide — has also seen many tech companies boom, including Samsung. “However, Samsung’s Q2 earnings will be adversely affected by the aftermath of Covid-19 in its major markets, such as India,” he added.

Source: Manila Times April 29, 2021 12:11 UTC