Samsung Expecting Strong Q1 Results
Samsung Electronics is expecting to continue its strong profit run with the company estimating an operating profit of US$14.7bn (15.6 trillion won) up 58 per cent from the prior year.
The Galaxy phone maker is predicting its sales to be at 60 trillion won up from 50.55 trillion won in the prior year.
If its predictions are correct this will be the fourth time Samsung delivers record earning results.
These results are indicative of its strong memory chip production, which still has high demand from manufacturers.
This forecast has also been boosted by the release of its flagship smartphone, the Samsung Galaxy S9 which was available for purchase early March. Last year the Galaxy S8 was released in April due to the global recall of Samsung Note 7 devices.
Currently, Samsung’s stock price is up 1.69 per cent on the Korean stock exchange at 2.4 million won.
The Korean company will be building a new memory chip line in China ramping up its NAND flash technology to meet future demand.
Last week, analysts were predicting a growth of 46 per cent. The results will be posted later on this month.