Samsung profit tops estimates as demand for its memory chips remains strong

Samsung Electronics Co. reported higher-than-projected profit as demand for its memory chips remained strong enough to outweigh concerns about display supplies to Apple Inc.

Operating income rose to 15.6 trillion won ($14.7 billion) in the three months ended March, according to preliminary results released Friday from the Suwon, South Korea-based company. That compares with the 14.5 trillion-won average of analysts’ estimates compiled by Bloomberg.

The first-quarter result, which includes the sales of its marquee Galaxy S9 smartphone unveiled in February, eases concerns about its display business after Apple sold fewer-than-projected iPhone X handsets with Samsung-made displays. Still, resilient demand for memory chips