Samsung, the world’s largest chip and smartphone maker, announced its highest Q2 profit in 5 years, up 11 percent year-on-year, despite inflation around the world. The company said its second-quarter operating profit rose to 14 trillion won ($10.73 billion).
South Korea-based technology company Samsung Electronics announced a quarterly profit that rose to pre-corona virus levels thanks to the chips it sold in response to inflation worldwide.
Announcing its highest quarterly profit since Q2 2018, the company said it made a profit of 14 trillion won ($10.73 billion) between April and June 2022.
Shares of Samsung, the world’s largest chip and smartphone maker, rose 2.5 percent after preliminary results for the second quarter were announced.
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“Chipmakers are expected to build stock and increase shipments next year when prices and demand recover,” said Cape Investment & Securities analyst Park Sung-soon.
Prices for certain DRAM chips used in devices and servers fell about 12 percent last month from a year ago, according to data provider TrendForce.
Prices for NAND chips used for data storage are forecast to fall as much as 5 percent in the July-September period from the previous quarter.
