Samsung Electronics announced Friday, that its estimated operating profit nearly doubled for the first three months of this year, hitting a record-high figure of US$5.2 billion. The company's sales, meanwhile, reached $39.7 billion, up 22 percent from the previous year.
The 97 percent jump in Samsung's operating profit exceeds expectations of analysts by nearly $1 billion. The record-high figure was unexpected, as the first three months of the year is usually the slowest period for manufacturers.
Recent figures show that nearly seven out of 10 mobile phone users in Korea are using a Samsung product, while the company ranked No. 1 in the global smartphone market in the first quarter, surpassing its rival Apple.