Samsung Electronics forecasts 53 4% jump in Q2 operating profit 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.
Samsung Electronics Says Q2 Operating Profit To Jump More Than Half By Claire LEE
07/07/21 AT 3:10 AM
South Korean tech giant Samsung Electronics forecast an expectations-beating jump of more than 53 percent in second-quarter operating profit Wednesday, thanks to strong chip prices and operations resuming at a key US factory.
The world s biggest smartphone maker said in an earnings estimate that it expected operating profit of around 12.5 trillion won ($11 billion) for April to June, up from 8.15 trillion won a year earlier.
The figures were ahead of the 11 trillion won average of estimates, according to Bloomberg News.
Samsung Electronics is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, the world s 12th largest economy.
Seoul: South Korean tech giant Samsung Electronics forecast a 53.37 per cent rise in second-quarter operating profit Wednesday, thanks to strong chip prices and operations resuming at a key US factory after a shutdown.
The world’s biggest smartphone maker said in an earnings estimate that it expected operating profit of around 12.5 trillion won for April to June, up from 8.15 trillion won a year earlier.
Samsung Electronics is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, the world’s 12th largest economy.
The conglomerate’s overall turnover is equivalent to a fifth of the national gross domestic product.
Samsung profit to jump by more than 50% thanks to strong chip prices news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.