Samsung profit in the April-June quarter may surge by 38%, thanks to strong chip prices, the epidemic drove consumer demand for electronic products and the recovery of data center investment. According to Refinitiv SmartEstimate data from 20 analysts, Samsung operating profit in the second quarter may jump to 11.3 trillion won (approximately US$10 billion). In addition, this may also be Samsung’s highest operating income in the second quarter since 2018, and revenue may increase by 15.4%.
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Although smartphone shipments are lower than January-March, Samsung’s strong performance highlights the huge demand for chips as inventories are exhausted and capacity is filled. Samsung is scheduled to announce its preliminary estimates for the second quarter on Wednesday.
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