Samsung Electronics Result 28/04/16

Samsung Electronics saw an increase in sales of 5.7% YoY in Q1 2016 to 48.78 trillion Won ($43.6 billion) with profits of 6.68 trillion Won ($5.86 billion), up 12% YoY, in line with its guidance. Samsung said that the Galaxy S7 and S7 Edge had gone well and OLED panels, system LSI chips and memory were up. The display business was down, because of LCD pricing and TV prices were down. The display business saw “temporary yield issues while adopting new process technology”. Although the TV business was down overall, profitability improved because of a better share of premium products. Samsung remains optimistic about the rest of the year.