Seoul, April 23 (SocialNews.XYZ) Samsung SDS, the information technology (IT) service arm of Samsung Group, said on Thursday its first-quarter net profit fell nearly 60 per cent from a year earlier due to a one-off factor.
Net profit for the January-March period came to 91.8 billion won (US$62.1 million), down 57.8 percent from 217.7 billion won a year earlier, reports Yonhap news agency.
Its operating profit tumbled 70.8 percent on-year to 78.3 billion won and sales fell 3.9 percent to 3.35 trillion won.
The operating profit was 55.4 percent below the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimated net profit was not available.
Samsung SDS attributed the lower-than-expected profit to a more than 100 billion-won provision for retirement benefits following a change in the calculation method for severance pay.
The company said it plans to invest 10 trillion won in artificial intelligence (AI) infrastructure, and mergers and acquisitions (M&As) by 2031.
Samsung SDS recently formed a strategic partnership with global investment firm KKR & Co., with the latter
Meanwhile, Samsung SDS said it has partnered with Google Cloud to collaborate on the artificial intelligence (AI), cloud computing and security sectors.
Under the partnership signed during Google Cloud Next 2026 in Las Vegas, the two companies will expand collaboration in generative AI and cloud computing, and jointly explore new business opportunities in industries with high security and regulatory requirements, such as the public and financial sectors, according to Samsung SDS.
As a first step, Samsung SDS will strengthen the strategic collaboration by leveraging Google Distributed Cloud (GDC), Google Cloud's software and hardware solutions for data centres and edge locations, to expand into high-security and highly regulated markets.
It also plans to provide enterprise customers with integrated access to Google's Gemini Enterprise and agentic AI solutions through its own cloud platform, Samsung Cloud Platform.
—IANS
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Source: IANS
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