Samsung Electronics estimates record operating profit in Q1

Samsung Electronics, the world's largest maker of smartphones, memory chips, televisions and flat screens, estimated Friday the record level of operating profit for the first quarter.

The preliminary operating profit was estimated at 8.7 trillion won (7.73 billion U.S. dollars) in the January-March period, slightly down from a previous record high of 8.84 trillion won tallied in the fourth quarter of 2012.

Sales were estimated at 52 trillion won in the three months ending March 31, down from 56.06 trillion won in the previous quarter.

Samsung did not unveil its estimate for net profit and a breakdown of each division. The final results will be announced after auditing and approval of board of directors.