Samsung Electronics flags 53per cent jump in Q2 profit, topping estimates channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
Strong memory chip shipments, prices buoyed profit-analysts
Phone shipments fell q/q on chip shortage, pandemic-analysts
SEOUL, July 7 (Reuters) - Samsung Electronics Co Ltd (005930.KS) on Wednesday reported a likely 53% jump in second-quarter operating profit, beating market estimates on the back of strong chip prices and demand despite lower smartphone sales.
The preliminary result is up 33% from the first quarter and underscores the soaring demand for chips that has depleted stockpiles amid a pandemic-led consumer appetite for electronics and recovering investment in data centres.
The world s largest memory chip and smartphone maker said profit for the quarter ended June 30 was likely 12.5 trillion won ($11 billion), well above a Refinitiv SmartEstimate of 11.3 trillion won. If confirmed later this month, it would be the tech giant s biggest second-quarter profit since 2018.