Samsung Electronics, Korea’s largest semiconductor maker, released its second-quarter financial results this week, reporting a 12% rise in operating profit to US$10.8 billion, in line with many rivals.
Samsung has managed to beat its own expectations in terms of operating profit, and its value has reached record levels since 2018. The company’s revenue increased by 21% and amounted to 59.1 billion dollars. Samsung’s operating profit was driven in part by a strengthening two-year record for the U.S. dollar. against the South Korean win. The company’s net income came in at $8.3 billion, slightly below market expectations.
All this did not prevent the division of Samsung Electronics, which specializes in semiconductor products, to increase the basic income by 24% to 21.8 billion USD, but the result in this respect did not meet the forecasts of analysts, being 22% below. Revenues in the segment of smartphones and network equipment increased by 29% and amounted to 22.5 billion dollars, exceeding the expectations of experts. Rival SK hynix said yesterday that demand for memory chips will fall in the current half even in the server segment, although that trend has been down for some time.