SEOUL, South Korea (AP) — Samsung Electronics says its first-quarter profit jumped 48 percent likely due to smartphone component sales.
The South Korean company said Friday its January-March operating income will be 9.9 trillion won ($8.8 billion), compared with 6.7 trillion won a year earlier.
The result was higher than the market consensus of 9.3 trillion won, according to financial data provider FactSet.
Its sales stayed nearly flat at 50 trillion won ($44 billion).
Samsung's earnings preview comes as its de facto leader stands trial on corruption charges linked to the scandal that led to impeachment of the country's president. Lee Jae-yong is scheduled to make his first appearance at court later Friday.
Samsung did not elaborate on its quarterly results. Analysts said strong demand for mobile chips and displays for smartphones fueled stellar profit.