Tech giant Samsung Electronics said on Thursday its first-quarter operating profit rose 12 percent from a year earlier, buoyed by strong initial sales for its flagship Galaxy S7 smartphones.
The South Korean firm also said its "solid performance" will continue in April-to-June, striking a more optimistic tone about prospects for its handsets and chips businesses despite broadly weaker demand for consumer electronics.
Samsung's mobile division was the top earner for the first time in nearly two years, thanks to better-than-expected sales of Galaxy S7 devices, in a sign the world's top smartphone maker has righted itself after two years of shrinking profits.
Boasting an improved camera, waterproofing and microSD storage support, Galaxy S7 models are on track to set a new first-year shipments record, boosting hopes the mobile business will post its first annual profit gain in three years.
"In the second quarter, the company expects its solid performance to continue, led by steady earnings in the mobile and semiconductor businesses," Samsung said in a statement.