Samsung’s mobile business was a bright spot, reporting profit of 3.94 trillion won in the first quarter, up from 3.82 trillion won a year earlier.
Counterpoint senior analyst Jen Park said “Samsung is focusing on profit rather than shipments” as it looks to meet more flexible demand for premium smartphones rather than volume.
In the second half, Samsung anticipates that the smartphone market will grow in both shipments and revenue.
Samsung shares rose 0.3 percent after the earnings call, reversing an earlier decline. The stock is up about 16 percent year-to-date as investors anticipate a memory chip recovery in the second half.