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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

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.