Samsung achieves a net profit of $10.74 billion in Q1 of 2018, up by 52.11 percent year-on-year

South Korean tech giant Samsung Electronics achieved a net profit of $10.74 billion in the first quarter of 2018, up 52.11 percent year-on-year, the company announced on Thursday. [caption id=“attachment_4267327” align=“alignleft” width=“380”] The logo of Samsung Electronics is seen at its office building in Seoul, South Korea. Image: Reuters[/caption] The company attributes these results to the good performance of its memory chip unit as well as the increase in sales of its flagship mobile, the Galaxy S9 . It’s net profit for the January-March period was 4.64 percent lower though, than that of the last quarter of 2017, Efe news reported. Its operating profit grew by 58.03 percent and set a new record for the first-quarter of the year, while its turnover increased by 19.82 percent. This is the fourth consecutive quarter in which the South Korean giant has achieved record operating profit.