Samsung Electronics estimates first-quarter profit jumped 50 percent on solid chip demand – Hardware

Samsung Electronics on Thursday documented a 50 per cent leap in quarterly operating earnings to article its optimum very first-quarter gain due to the fact 2018, as reliable demand from customers underpinned prices for memory chips.

The world’s biggest memory chip and smartphone maker believed 1st-quarter profit at 14.1 trillion received (A$15.4 billion), compared to a Refinitiv SmartEstimate of 13.3 trillion received.

Income probable rose 18 % from the same period a 12 months earlier to a report 77 trillion won, the company mentioned in a shorter preliminary earnings release, also above industry expectations.

Samsung is owing to launch detailed earnings on April 28.

While chip price ranges dipped in the initial quarter, analysts claimed they experienced held up improved than predicted thanks to solid desire as perfectly as cautious financial commitment paying out by chipmakers and minimal capability expansion. This buoyed Samsung’s chip earnings which make up about fifty

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