Samsung profits rose 50% in chip sales 2022-04-27 23:39:57

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The South Korean tech giant earned KRW 77.8 trillion ($61.3 billion) in revenue and KRW 14.1 trillion ($11.1 billion) in operating profit, roughly in line with its own forecast earlier this month.

The strong earnings were attributed to its memory chip sales, which were up nearly 40% year-over-year, taking in nearly 20.1 trillion won (US$15.8 billion).

Samsung’s mobile division also benefited from strong sales of its latest lineup of smartphones, which said “Focus on… – Focus on” The flagship Galaxy S22 Ultra. models were Launched At a wonderful event in February.
But the electronics maker also warned that headaches are long-lasting supply chain issues It will “go on”, which will lead to a shortage of components for its devices. The company said it will continue to focus on efforts to bolster its stockpile of chips and image sensors this year.
Samsung (SSNLF) It also indicated that it expects weak consumer sentiment towards smartphones due to “protracted geopolitical conflicts and lockdowns in some areas”.

Research provider Canalys cited a weak global smartphone market, with an “unstable business environment” in the first quarter, according to the company’s vice president of mobility, Nicole Bing.

In a report last week, it noted that “sellers are facing great uncertainty due to the Russo-Ukrainian war, and the spin of China [Covid-19] Lockdown and inflation risk. All this added to the traditionally sluggish seasonal demand.”

However, Samsung topped global sales in the first quarter, outperforming it apple (AAPL)According to Canalys.

Samsung stock fell 0.5% in Seoul Thursday morning.

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