Samsung confirmed this week that it expects operating profit in the first quarter to rise by more than 2% sequentially, thanks to strong performances in its flat panel and chip businesses.
The company is likely to post an operating profit of KRW5.4 trillion ($4.5 billion), compared with KRW5.3 trillion ($4.4 billion) in Q4. Samsung’s operating profit in the first quarter of last year was KRW8.4 trillion ($7 billion). The head of Samsung’s TV division was quoted as saying that the company had “fared well” in the first quarter, despite the outlook for the global TV industry remaining uncertain. Samsung Electronics will announce its guidance for Q1 earnings on 7th April.
In related news, Samsung’s regulatory end of year filing to South Korea’s Financial Supervisory Service showed that Apple, Deutsche Telekom, Ingram Micro, Sprint and Verizon were the top five sources of income for the Korean company in 2014, with the companies’ business amounting to a collective 13% of total turnover.