Samsung report 41% profit increase

The company’s thriving smartphone sector has been behind much of its success, with sales of smartphone and mobiles up 7% on the last quarter to 32.82 trillion won (£19 billion), accounting for around 75% of the company’s profits.

However Samsung predicted that growth in smartphone sales would be static in the coming months due to stern competition in the mid to low-end sections of the market, before picking up in the second half of the year.