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Samsung Electronics says Q2 profit likely rose 53per cent, beating analyst estimate
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Investegate |Samsung Electronics Announcements | Samsung Electronics: 2Q 2021 Pre-Earnings Guidance
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Samsung Electronics flags 53per cent jump in Q2 profit, topping estimates
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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.