Samsung first-quarter profit likely surged 45 per cent on bumper smartphone, appliance sales

Samsung Electronics Co Ltd likely saw a 45 per cent jump in profit for January-March on robust sales of smartphones, TVs and home appliances, though chip division earnings are seen tumbling after a storm suspended production at its U.S. plant.

Spending more time at home due to the coronavirus pandemic, consumers have splashed out on an array of high-margin consumer electronics which in turn has helped cause a global shortage of semiconductors.