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