>> Samsung reported its best quarterly profits ever on Thursday, flying high on worldwide demand for memory chips. That's despite what it called weakness in the worldwide market for smartphones, what may signal a bumpy road ahead. In the first quarter at least, chips used in computer servers helped synch Thursday's record result.
The company said its operating profits clocked in at $14.4 billion. Jumping more than 50% from this time last year. Its own smartphone business also jumped up compared to last year, 82%. But the company's concern that cut-throat competition to sell high-end phones will soon eat into those profit. In early trade, Samsung shares were up 3% in Korea.
Investors seem to be brushing off anxiety about the smartphone market and seized on a potentially positive outlook for memory chips. But in the last week, Samsung's rival, SK and Taiwan's TSMC, a key supplier for iPhones, both separately want sales will suffer this year in the market for smartphone part.
Analysts say global smartphone demand failed 2% in the first quarter of the year after week demand from the US and China.