Samsung Tops Profit Estimates, Warns of Weaker Phone Demand

Electronics maker is latest to caution on smartphone market
Mention of OLEDs indicated slower iPhone X shipments

Samsung’s first-quarter profit exceeded analysts’ estimates. Bloomberg Intelligence’s Anthea Lai weighs in.(Source: Bloomberg)

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By Sam Kim (News)

April 25, 2018 at 11:43 PM UTC

Updated on

April 26, 2018 at 5:11 AM UTC

This article is for subscribers only.

Samsung Electronics Co. beat analysts’ profit estimates on booming exports of memory chips, but warned of challenges in smartphone demand in the coming months.

Net income rose to 11.6 trillion won ($10.7 billion) in the three months ended March, the Suwon, South Korea-based company said in a filing Thursday, exceeding the 10.9 trillion won average of projections compiled by Bloomberg. Sales climbed 20 percent to 60.6 trillion won.