Samsung flags 931% rise in first-quarter profit as chip prices recover

Samsung Electronics 005930 estimated on Friday a 931% rise in its first-quarter operating profit, as rebounding semiconductor prices lifted earnings from a low base a year ago when there was a severe downturn in chip demand.

The world's largest memory chip and TV maker estimated its operating profit rose to 6.6 trillion won ($4.89 billion) in the quarter ended March 31, from 640 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement.

($1 = 1,348.9300 won)