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Samsung Electronics Q1 Net Profit Grows 13.5%

Written: 2016-04-28 09:36:09Updated: 2016-04-28 16:45:54

Samsung Electronics Q1 Net Profit Grows 13.5%

South Korean tech giant Samsung Electronics says its first-quarter net profit rose 13-point-55 percent from a year earlier.

In a regulatory filing on Thursday, the company said it earned five-point-25 trillion won, or about four-point-six billion U.S. dollars, in the January to March period, compared with four-point-62 trillion won the year before.

Samsung said sales rose five-point-65 percent on-year and its operating profit gained eleven-point-65 percent. Its IT and mobile communications business, meanwhile, posted an operating profit of three-point-89 trillion won.

The company said the early launch of its latest flagship Galaxy smartphone model this year and markdowns of prices helped boost sales during the quarter.

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