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Old 7th April 2016, 17:30   #1
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Default Samsung expects big profit jump

Samsung hinted that it is expecting a 10 percent jump in quarterly profit, thanks to early sales for its new Galaxy S7 smartphones.

The South Korean tech giant's estimate for first-quarter operating profit handily beat market forecasts and has boosted hopes that its struggling mobile business will post its first annual profit gain in three years, benefiting from an improved performance for mid-to-low tier devices and cost-cutting efforts.

Samsung said January-March operating profit was likely to be $5.7 billion, well above profit expected by Wall Street. The firm will release more details in late April.
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