Samsung profits soar 50% on chip sales
CNN
Samsung reported strong results on Thursday, with profits for the first quarter climbing more than 50% compared to the same time a year ago.
The South Korean tech giant pulled in 77.8 trillion Korean won ($61.3 billion) in revenue and 14.1 trillion Korean won ($11.1 billion) in operating profit, roughly in line with its own forecast earlier this month.
The solid earnings are attributed to sales of its memory chips, which were up nearly 40% year-on-year, taking in approximately 20.1 trillion won ($15.8 billion).
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