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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 worl...

Joyce Lee 3 minute read People wears masks in front of a Samsung store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song/File Photo Summary Surging chip prices, shipments boost profit Revenue estimated up 15.4% Smartphones shipments likely fell on quarter SEOUL, July 6 (Reuters) - Samsung Electronics Co Ltd (005930.KS) likely saw a 38% surge in profit for the April-June quarter thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recove...

Samsung Electronics second-quarter profit likely up 38% on strong chip prices By Joyce Lee Reuters SEOUL (Reuters) - Samsung Electronics Co Ltd likely saw a 38% surge in profit for the April-June quarter thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recovering investment in data centres. Operating profit for the world's biggest memory chip and smartphone maker likely jumped to 11.3 trillion won ($10 billion), according to a Refinitiv SmartEstimate drawn from 20 analysts and weighted toward those who are more consistently acc...

Message : Required fields SEOUL (Reuters) - Samsung Electronics Co Ltd likely saw a 38% surge in profit for the April-June quarter thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recovering investment in data centres. Operating profit for the world's biggest memory chip and smartphone maker likely jumped to 11.3 trillion won ($10 billion), according to a Refinitiv SmartEstimate drawn from 20 analysts and weighted toward those who are more consistently accurate. The South Korean tech giant's strong performance - coming despite ...