Electronics giant Samsung posted strong gains for the second quarter of 2022 thanks to continued strong demand for chips. The global market leader in memory chips, smartphones and televisions expects an operating profit of 11.4 percent in its profit forecast for the period April to June. Core profits are expected to hit 14 trillion won (about $10.5 billion), Samsung Electronics said on Thursday.
The South Korean company expects sales to rise 21 percent to 77 trillion won. Samsung traditionally only presents exact company figures at a later date.
Chip business exceeds expectations
The demand for capacity in data centers is mainly driving profits in the semiconductor division. The memory chips business already exceeded market forecasts in the first quarter.
On the other hand, according to experts, things have slowed down with smartphones and TV sets worldwide. Consumers’ reticence as a result of high inflation has therefore manifested itself in these areas. As reported by South Korean news agency Yonhap, Samsung sold an estimated 61 million smartphones in the second quarter. That would be a decrease of 16 percent from the previous quarter.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
