The South Korean company posted a record quarterly revenue, up 10% from a year earlier, while its first-quarter operating profit climbed 1.5%.

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.

During an earnings call, Samsung's chief financial officer Soon-cheol Park told reporters that "ongoing uncertainty surrounding US tariff policies continues to pose a potential risk of demand slowdown.