The South Korean technology giant posted stronger-than-expected first-quarter profit, as solid gains in its smartphone segment offset weak earnings at its core semiconductor business.

Samsung Electronics reported Wednesday a sharp increase in consolidated revenue for the first quarter thanks to strong sales of its new smartphones, but its semiconductor business suffered a setback.

The US has suspended “reciprocal tariffs” on dozens of countries, including South Korea and Vietnam, until July but a minimum 10 per cent duty still applies and is likely to increase prices of Samsung’s various consumer electronics such as smartphones and TVs.