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

Sony and Samsung currently lead the global market for CMOS image sensors, with the Japanese rival holding a slight edge

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.

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.

Also See: Samsung Galaxy S9 Plus owners report ‘black crush’ display issues while watching video

Samsung's Galaxy Note 9 could come with a 4,000 mAh battery and a 6.4-inch display

Samsung patents a smartphone with an iPhone X like notch in China, expected to be the next flagship Galaxy Note 9

Read more on News & Analysis by Firstpost.