Samsung Elec Q2 profit likely rose 11% on solid server chip demand


FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - Samsung Electronics Co Ltd reported a likely 11% jump in quarterly operating earnings on Thursday as lingering demand for its memory chips from server customers offset lower sales to inflation-hit smartphone makers.

The world's largest memory-chip and smartphone maker estimated its profit rose to 14 trillion won ($10.73 billion) in the three months ended June 30 - its highest second-quarter profit since 2018 - from 12.57 trillion won a year earlier.

($1 = 1,304.4400 won)

(Reporting by Joyce Lee; Editing by Himani Sarkar)

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Tech News

Microsoft asks staff to curb expenses
Opinion: It’s alarming when TV shows and movies vanish off streaming services, but there’s a long history of this
Study: Consumers are likely to be susceptible to slick graphic design of trading platforms
US doctor pleads guilty to federal charges tied to dark web, kidnapping plot
Amazon moves to block website it says sells fake five-star feedback
In your office communications, watch your use of emojis
How to get your smartphone ready for a holiday
Snapchat introduces Family Centre tool to boost child safety
Try a free online tool to perfect your touch typing technique
Apps turning restaurant leftovers into cheap meals take off in Asia

Others Also Read