Samsung Electronics Co on Friday posted record and better-than-expected operating profits in the first quarter, nearly doubling them thanks in large part to smartphone sales, dpa reported. Asia's largest consumer-electronics maker estimated an operating profit of 5.8 trillion won (5.1 billion dollars) in the January-to-March quarter, up from 2.95 trillion won in the same quarter last year. The results were above the average forecast of 5 trillion won by analysts and exceeded its previous record of 5.3 trillion won, generated in the previous quarter. Revenues rose 22 per cent to 45 trillion won, the Suwon, South Korea-based company said as it prepared to present full figures later this month. Samsung is competing for market share in the smartphone and tablet business against Apple Inc, with which it is locked in patent battles around the globe. Samsung has been introducing new smartphone models that have been well-received, including the Galaxy Note. It is also introducing 3-D and internet-enabled television as earnings at its chip unit drop.
