Hong Kong (CNN Business)Samsung, the world’s largest smartphone maker, predicts it eked out a rise in profit last quarter, as the coronavirus pandemic was just beginning to disrupt supply chains and hobble global demand. The South Korean company said on Tuesday that it expects to make an operating profit of roughly 6.4 trillion won ($5.2 billion) for the January-to-March period. That’s up nearly 3% from the same period a year ago and right in line with what analysts polled by data provider Refinitiv predicted. Samsung said it expects sales will also rise about 5% to 55 trillion won ($45 billion). Shares in Samsung rose about 2% in Seoul on the news, though later pared gains to 1.4%. The company will report full first-quarter results at the end of this month. Read More Samsung says 5G won’t save the smartphone market from coronavirus slump this year Samsung — which also supplies key parts for companies such as Apple (AAPL) and Huawei — is among the first of the big tech companies to report earnings for the quarter, and its full report will offer a glimpse into how tech giants are coping with the pandemic. If Samsung reports sluggish sales of memory… Read full this story
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