Samsung Electronics To Post Record Q1 Earnings
Samsung Electronics is projected to post record first-quarter earnings, according to Korean financial data tracker Yonhap Infomax.
According to “earnings consensus among securities firms”, Samsung is on track to post A$81.81 billion in sales, and A$15 billion in operating profits for the March quarter, up 15 per cent, and 38.6 per cent from the first quarter of 2021.
This will mark the third consecutive quarter the company has posted record earnings.
Samsung, the world’s number one memory chip producer, benefitted from rising demand and prices for chips.
Samsung has also seen strong growth in its smartphone division.
The company’s first quarter smartphone shipments are estimated at 74.5 million units, an 8.7 percent jump from the previous quarter.