Samsung, expects significant rise in profit!
Samsung is forecasting a roughly 52% jump in its fourth-quarter operating profit from the year-ago period!
lifted by resilient demand for memory chips and improved returns from its contract chip-making business, WSJ finds
South Korean company benefits from continued strength of the semiconductor business
Tweet on Samsung Q4 expectations
Samsung Electronics; Expects 52% Rise in Quarterly Operating Profit!
South Korean company benefits from continued strength of the semiconductor business- @WSJ https://t.co/JjAgeGMMbq— The_Journalbiz (@the_journalbiz) July 28, 2022
Last month, Samsung said world-wide sales of its fordable devices in 2021 was four times higher than the prior year’s record.
- Samsung, is the world’s largest smartphone and memory-chip maker.
The world’s largest smartphone and memory-chip maker expects operating profit of about $11.4 billion, for the quarter ended Dec. 31.
Samsung’s estimated fourth-quarter operating profit was below market expectations but the electronics giant said the drop reflected a one-time bonus paid to employees.
The Suwon, South Korea-based company estimates it generated 76 trillion in sales, roughly a 24% gain from a year ago and a quarterly revenue record for the company.
Samsung’s top-line boost reflects ongoing strength for chip makers that have enjoyed elevated demand during a long-lasting supply crunch.
The company is considered a epicenter for the tech world, as it is both a major electronics maker and components supplier to big tech firms including Apple Inc. and Sony Group Corp.
Samsung and many other chip makers have seen their revenues jump, as a pandemic-fueled surge in demand for all sorts of devices requiring semiconductors has created widespread shortages and a run up in prices.
A global chip shortage is affecting how quickly we can drive a car off the lot or buy a new laptop.
*Shares in Samsung rose 1.3% in early Friday trading in South Korea.
