Samsung estimates first quarter operating profit at $5.14 billion

South Korea's Samsung Electronics on April 06 estimated first-quarter operating profit at 5.8 trillion won ($5.14 billion), a 97 percent rise from a year earlier.
The world's largest technology firm by revenue was releasing earnings guidance for January-March before its official results. It estimated Q1 sales at about 45 trillion won, a 22 percent rise from the first quarter of 2011, but did not predict a net profit figure.
Samsung Electronics gave no reason for the strong figure, a record for a first quarter, but analysts credited strong smartphone sales. The company is the world's second biggest maker after Nokia of all types of mobile phone. The Korean giant is also the world's biggest maker in revenue terms of flat panels, memory chips and flat-screen televisions. Analysts said a turnaround in the flat-panel business and better profits in the TV and home appliance unit also probably helped offset a relatively weaker performance in memory chips.