South Korean tech giant Samsung Electronics achieved a net profit of $10.74 billion in the first quarter of 2018, up 52.11 per cent year-on-year, the company announced on Thursday.

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.

Its net profit for the January-March period was 4.64 per cent lower though than that of the last quarter of 2017, Efe news reported.

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Its operating profit grew by 58.03 per cent and set a new record for the first-quarter of the year, while its turnover increased by 19.82 per cent.

This is the fourth consecutive quarter in which the South Korean giant has achieved record operating profit. IANS