Samsung Elec says demand for chips to remain strong after Q2 profit jumps
By Joyce Lee and Heekyong Yang
Reuters
SEOUL (Reuters) -Samsung Electronics Co Ltd on Thursday forecast strong demand for memory chips and a recovery in demand for display panels due to new smartphone launches, after posting its highest quarterly operating profit in over two years. For the second half, market conditions are expected to be favorable for the component business, Samsung said in a statement, although it cautioned that risks of continued disruptions in component supply and uncertainties related to COVID-19 are likely to persist.
Despite the risks posed by shortages of other semiconductors, it said the memory chip market s fundamentals remain strong on increasing 5G adoption, new smartphone model launches, and sustained demand for servers and PCs.
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SEOUL (Reuters) -Samsung Electronics Co Ltd on Thursday forecast strong demand for memory chips in the second half and a recovery in the mobile market to 2019 levels, in a sign the global economy is getting back on track from the coronavirus pandemic.
The world’s top maker of memory chips and smartphones posted a 54% jump in operating profit for the second quarter, its strongest result in more than two years, supported by high chip prices and better than expected demand.
“For the second half, market conditions are expected to be favourable for the component business,” Samsung said in a statement. “Memory demand will likely be buoyed by new smartphone model launches, with wider 5G availability driving growth.”
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Samsung Electronics flags 53per cent jump in Q2 profit, tops estimates Samsung Electronics Co Ltd said on Wednesday its second-quarter operating profit likely jumped 53per cent, beating analysts estimates, as strong chip prices and demand lifted earnings.
FILE PHOTO: The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji/File Photo
07 Jul 2021 09:05AM (Updated:
07 Jul 2021 09:50AM) Share this content
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SEOUL -Samsung Electronics Co Ltd on Wednesday reported a likely 53per cent jump in second-quarter operating profit, beating market estimates on the back of strong chip prices and demand despite lower smartphone sales.
Samsung Electronics flags 53% jump in Q2 profit, tops estimates
By Joyce Lee and Heekyong Yang
Reuters
SEOUL (Reuters) - Samsung Electronics Co Ltd 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.