Rising chip prices fuel Samsung’s best quarterly profit in 3 years

 BLOG   World News
  Leave a reply
  • Profit highest since 2018 but slightly below estimates
  • Marketing costs may have offset foldable sales-analysts
  • Falling memory chip prices to weigh on Q4-analysts

SEOUL, Oct 8 (Reuters) – Samsung Electronics Co Ltd (005930.KS) on Friday flagged a 28% jump in its third-quarter operating profit to the highest in three years, driven by rising memory chip prices and display sales for new flagship smartphone launches.

The preliminary result was up 26% from the second quarter, although just below forecasts, while the market reaction was further muted as analysts pencilled in a flat or slightly lower result this quarter on an expected fall in memory chip prices.

https://www.reuters.com/business/samsung-electronics-says-q3-profit-likely-highest-3-years-rising-chip-prices-2021-10-07/

0

Start typing and press Enter to search